Aberdeen Group plc Raises Holdings in Brown & Brown, Inc. $BRO

Aberdeen Group plc grew its holdings in Brown & Brown, Inc. (NYSE:BRO) by 8.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 183,564 shares of the financial services provider’s stock after buying an additional 14,008 shares during the period. Aberdeen Group plc owned 0.05% of Brown & Brown worth $17,075,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Cornerstone Planning Group LLC grew its position in shares of Brown & Brown by 423.1% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Brown & Brown during the second quarter worth $30,000. Motco purchased a new stake in Brown & Brown in the 2nd quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Brown & Brown in the 2nd quarter worth $49,000. Finally, Evelyn Partners Investment Management LLP purchased a new position in shares of Brown & Brown during the 2nd quarter worth $52,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Trading Up 1.4%

NYSE BRO opened at $69.76 on Thursday. Brown & Brown, Inc. has a 52-week low of $65.68 and a 52-week high of $125.68. The firm has a 50-day moving average price of $76.85 and a 200 day moving average price of $84.57. The stock has a market capitalization of $23.75 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.08 and a beta of 0.79. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.65 billion. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.Brown & Brown’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. Equities research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s dividend payout ratio is 20.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BRO shares. JPMorgan Chase & Co. assumed coverage on shares of Brown & Brown in a research report on Thursday, December 18th. They set a “neutral” rating and a $91.00 price target on the stock. Citigroup downgraded Brown & Brown from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. Barclays decreased their price target on shares of Brown & Brown from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 27th. Argus raised Brown & Brown to a “hold” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brown & Brown in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $90.36.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.