Great West Life Assurance Co. Can raised its stake in Brown & Brown, Inc. (NYSE:BRO) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 188,185 shares of the financial services provider’s stock after acquiring an additional 9,746 shares during the period. Great West Life Assurance Co. Can owned approximately 0.07% of Brown & Brown worth $4,857,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BRO. Select Equity Group L.P. increased its holdings in Brown & Brown by 47.7% in the 3rd quarter. Select Equity Group L.P. now owns 8,259,952 shares of the financial services provider’s stock valued at $244,247,000 after acquiring an additional 2,668,708 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Brown & Brown by 2,656.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,498,507 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 2,407,850 shares during the last quarter. Federated Investors Inc. PA increased its holdings in Brown & Brown by 2,232.1% in the 3rd quarter. Federated Investors Inc. PA now owns 2,057,297 shares of the financial services provider’s stock valued at $60,835,000 after acquiring an additional 1,969,079 shares during the last quarter. BlackRock Inc. increased its holdings in Brown & Brown by 4.0% in the 4th quarter. BlackRock Inc. now owns 21,351,938 shares of the financial services provider’s stock valued at $588,460,000 after acquiring an additional 828,759 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Brown & Brown by 33.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,379,855 shares of the financial services provider’s stock valued at $65,588,000 after acquiring an additional 601,160 shares during the last quarter. Institutional investors own 71.73% of the company’s stock.
In other Brown & Brown news, EVP Robert W. Lloyd sold 10,601 shares of Brown & Brown stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $29.29, for a total value of $310,503.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anthony T. Strianese sold 35,000 shares of Brown & Brown stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $29.17, for a total transaction of $1,020,950.00. The disclosure for this sale can be found here. Company insiders own 17.12% of the company’s stock.
Shares of NYSE:BRO opened at $29.46 on Friday. Brown & Brown, Inc. has a 52 week low of $24.34 and a 52 week high of $31.55. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 2.19 and a beta of 0.73. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.95 and a quick ratio of 0.95.
Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 28th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Brown & Brown had a return on equity of 12.03% and a net margin of 17.09%. The business had revenue of $508.70 million during the quarter, compared to analysts’ expectations of $503.52 million. During the same period in the previous year, the business earned $0.24 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, research analysts expect that Brown & Brown, Inc. will post 1.33 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 20th. Shareholders of record on Wednesday, February 6th were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, February 5th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.09%. Brown & Brown’s payout ratio is currently 26.02%.
A number of analysts have issued reports on BRO shares. Zacks Investment Research upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Monday, December 31st. ValuEngine upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $29.00.
TRADEMARK VIOLATION WARNING: This news story was first posted by American Banking News and is the property of of American Banking News. If you are viewing this news story on another site, it was copied illegally and reposted in violation of international copyright & trademark law. The correct version of this news story can be read at https://www.americanbankingnews.com/2019/03/17/great-west-life-assurance-co-can-increases-holdings-in-brown-brown-inc-bro.html.
Brown & Brown Company Profile
Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.
Featured Article: What is a Backdoor Roth IRA?
Want to see what other hedge funds are holding BRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brown & Brown, Inc. (NYSE:BRO).
Receive News & Ratings for Brown & Brown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown and related companies with MarketBeat.com's FREE daily email newsletter.