Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,518 shares of the financial services provider’s stock after acquiring an additional 626 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brown & Brown were worth $455,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Tandem Investment Advisors Inc. boosted its stake in Brown & Brown by 13.2% during the fourth quarter. Tandem Investment Advisors Inc. now owns 549,032 shares of the financial services provider’s stock worth $15,131,000 after acquiring an additional 63,892 shares in the last quarter. IFP Advisors Inc boosted its stake in Brown & Brown by 57.5% during the fourth quarter. IFP Advisors Inc now owns 2,249 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 821 shares in the last quarter. BB&T Corp boosted its stake in Brown & Brown by 3.1% during the fourth quarter. BB&T Corp now owns 124,092 shares of the financial services provider’s stock worth $3,420,000 after acquiring an additional 3,675 shares in the last quarter. BTIM Corp. boosted its stake in Brown & Brown by 6.9% during the fourth quarter. BTIM Corp. now owns 444,085 shares of the financial services provider’s stock worth $12,239,000 after acquiring an additional 28,704 shares in the last quarter. Finally, TrimTabs Asset Management LLC bought a new position in Brown & Brown during the fourth quarter worth $1,236,000. 71.63% of the stock is currently owned by institutional investors and hedge funds.
BRO has been the topic of several research analyst reports. Wells Fargo & Co reissued a “hold” rating and set a $28.00 target price on shares of Brown & Brown in a research note on Monday, October 22nd. Barclays increased their target price on shares of Brown & Brown from $23.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, November 12th. Zacks Investment Research raised shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Monday, December 31st. Finally, ValuEngine raised shares of Brown & Brown from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $29.00.
Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 28th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Brown & Brown had a net margin of 17.09% and a return on equity of 12.03%. The business had revenue of $508.70 million during the quarter, compared to the consensus estimate of $503.52 million. During the same period last year, the business posted $0.24 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. Equities research analysts predict that Brown & Brown, Inc. will post 1.34 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 20th. Shareholders of record on Wednesday, February 6th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Tuesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is 26.02%.
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About Brown & Brown
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.
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