BI Asset Management Fondsmaeglerselskab A S Has $1.33 Million Stake in Brown & Brown, Inc. $BRO

BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 67.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,436 shares of the financial services provider’s stock after acquiring an additional 8,265 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Brown & Brown were worth $1,333,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Basepoint Wealth LLC acquired a new position in Brown & Brown in the fourth quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new position in Brown & Brown during the second quarter worth $30,000. DV Equities LLC bought a new position in Brown & Brown during the fourth quarter worth $33,000. Board of the Pension Protection Fund acquired a new stake in Brown & Brown in the fourth quarter worth $40,000. Finally, Maseco LLP bought a new stake in Brown & Brown in the fourth quarter valued at $60,000. Institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling

In other Brown & Brown news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were acquired at an average price of $57.10 per share, with a total value of $114,200.00. Following the completion of the transaction, the director owned 47,621 shares in the company, valued at approximately $2,719,159.10. This trade represents a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 13.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Keefe, Bruyette & Woods decreased their target price on Brown & Brown from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. The Goldman Sachs Group reduced their price objective on Brown & Brown from $82.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, April 8th. Royal Bank Of Canada decreased their price objective on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating for the company in a report on Wednesday, April 29th. Mizuho decreased their price objective on Brown & Brown from $85.00 to $84.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Finally, Citigroup initiated coverage on Brown & Brown in a research report on Thursday, May 21st. They set a “market outperform” rating on the stock. Five analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and an average target price of $78.44.

Brown & Brown Stock Up 2.7%

Brown & Brown stock opened at $62.03 on Thursday. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $111.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. The firm’s 50-day simple moving average is $60.00 and its 200 day simple moving average is $68.62. The stock has a market cap of $21.03 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 2.78 and a beta of 0.63.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business posted $1.29 EPS. The company’s revenue for the quarter was up 35.4% on a year-over-year basis. Research analysts predict that Brown & Brown, Inc. will post 4.51 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, May 11th. Brown & Brown’s dividend payout ratio (DPR) is 21.22%.

Brown & Brown Company 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.