TCI Wealth Advisors Inc. raised its position in Brown & Brown, Inc. (NYSE:BRO) by 121.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 914 shares of the financial services provider’s stock after buying an additional 502 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Brown & Brown were worth $36,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in BRO. Cullen Frost Bankers Inc. boosted its position in Brown & Brown by 95.4% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 885 shares of the financial services provider’s stock worth $32,000 after buying an additional 432 shares during the period. Allred Capital Management LLC bought a new stake in Brown & Brown during the 4th quarter valued at $33,000. Usca Ria LLC bought a new stake in Brown & Brown during the 3rd quarter valued at $38,000. First Mercantile Trust Co. bought a new stake in Brown & Brown during the 3rd quarter valued at $65,000. Finally, NEXT Financial Group Inc bought a new stake in Brown & Brown during the 3rd quarter valued at $150,000. 69.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE BRO traded up $0.40 during trading on Wednesday, hitting $45.05. The stock had a trading volume of 161,960 shares, compared to its average volume of 1,185,055. Brown & Brown, Inc. has a 12 month low of $26.23 and a 12 month high of $44.94. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $11.77 billion, a PE ratio of 31.89, a PEG ratio of 2.77 and a beta of 0.69. The firm has a fifty day moving average of $40.11 and a two-hundred day moving average of $37.40.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 5th will be paid a $0.085 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $0.34 annualized dividend and a dividend yield of 0.75%. Brown & Brown’s payout ratio is 24.29%.
BRO has been the subject of a number of recent research reports. Barclays boosted their price target on shares of Brown & Brown from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada boosted their price target on shares of Brown & Brown from $38.00 to $42.00 and gave the company a “sector perform” rating in a research note on Wednesday. They noted that the move was a valuation call. William Blair restated a “market perform” rating on shares of Brown & Brown in a research note on Tuesday. SunTrust Banks restated a “buy” rating and set a $52.00 price target on shares of Brown & Brown in a research note on Wednesday. Finally, Morgan Stanley upgraded shares of Brown & Brown from an “underweight” rating to an “equal” rating and set a $38.00 price target for the company in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Brown & Brown currently has an average rating of “Hold” and an average price target of $39.67.
In other news, EVP Jerome Scott Penny sold 30,000 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $39.47, for a total value of $1,184,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 16.69% of the company’s stock.
About Brown & Brown
Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.
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