Rockefeller Capital Management L.P. Purchases 38,732 Shares of Brown & Brown, Inc. $BRO

Rockefeller Capital Management L.P. increased its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 163.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,498 shares of the financial services provider’s stock after buying an additional 38,732 shares during the period. Rockefeller Capital Management L.P.’s holdings in Brown & Brown were worth $4,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in BRO. World Investment Advisors increased its position in Brown & Brown by 24.5% during the 4th quarter. World Investment Advisors now owns 3,994 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 785 shares during the period. Hsbc Holdings PLC lifted its position in shares of Brown & Brown by 3.7% in the 4th quarter. Hsbc Holdings PLC now owns 610,737 shares of the financial services provider’s stock worth $48,744,000 after purchasing an additional 21,643 shares during the period. AG Campbell Advisory LLC bought a new position in shares of Brown & Brown during the fourth quarter valued at approximately $1,732,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Brown & Brown by 352.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,690 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 2,875 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Brown & Brown during the fourth quarter valued at approximately $448,000. 71.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Citigroup started coverage on shares of Brown & Brown in a research note on Thursday, May 21st. They issued a “market outperform” rating for the company. Citizens Jmp started coverage on Brown & Brown in a report on Thursday, May 21st. They issued a “market outperform” rating and a $70.00 price target on the stock. The Goldman Sachs Group decreased 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. Barclays dropped their price objective on Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Brown & Brown from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Five analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Brown & Brown has an average rating of “Hold” and an average price target of $78.44.

Insider Activity at Brown & Brown

In related news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average cost of $57.10 per share, with a total value of $114,200.00. Following the transaction, the director directly owned 47,621 shares of the company’s stock, valued at $2,719,159.10. This trade represents a 4.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.13% of the stock is owned by insiders.

Brown & Brown Stock Up 5.6%

Shares of BRO stock opened at $64.25 on Friday. The stock’s fifty day moving average price is $59.82 and its 200 day moving average price is $68.47. Brown & Brown, Inc. has a 1-year low of $53.81 and a 1-year high of $111.09. The company has a market cap of $21.78 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 2.80 and a beta of 0.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64.

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

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were issued a dividend of $0.165 per share. The ex-dividend date was Monday, May 11th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio is 21.22%.

About Brown & Brown

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.