3,461 Shares in Brown & Brown, Inc. (NYSE:BRO) Acquired by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,461 shares of the financial services provider’s stock, valued at approximately $425,000.

Other large investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Brown & Brown by 4.1% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 52,535 shares of the financial services provider’s stock valued at $6,535,000 after acquiring an additional 2,077 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Brown & Brown in the 1st quarter valued at approximately $332,000. Cetera Investment Advisers lifted its position in shares of Brown & Brown by 20.9% in the 1st quarter. Cetera Investment Advisers now owns 43,878 shares of the financial services provider’s stock valued at $5,458,000 after acquiring an additional 7,598 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Brown & Brown by 63.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 11,833 shares of the financial services provider’s stock valued at $1,472,000 after acquiring an additional 4,589 shares in the last quarter. Finally, Gilbert & Cook Inc. lifted its position in shares of Brown & Brown by 2.0% in the 1st quarter. Gilbert & Cook Inc. now owns 9,549 shares of the financial services provider’s stock valued at $1,188,000 after acquiring an additional 190 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Performance

Shares of BRO opened at $102.55 on Tuesday. The company’s fifty day moving average is $108.16 and its 200-day moving average is $111.61. Brown & Brown, Inc. has a 12 month low of $97.85 and a 12 month high of $125.68. The firm has a market cap of $29.40 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 2.26 and a beta of 0.82. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 28th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the business posted $0.93 EPS. Brown & Brown’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.59%. Brown & Brown’s dividend payout ratio (DPR) is 16.71%.

Analysts Set New Price Targets

Several equities research analysts recently commented on BRO shares. Edward Jones started coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They issued a “buy” rating for the company. Jefferies Financial Group upped their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a research report on Friday, April 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $122.00 price objective (up previously from $116.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Wells Fargo & Company reiterated an “overweight” rating and issued a $127.00 price objective (up previously from $125.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Brown & Brown from $102.00 to $104.00 and gave the company an “underperform” rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and an average price target of $118.92.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.