Sumitomo Mitsui DS Asset Management Company Ltd Purchases 8,507 Shares of Brown & Brown, Inc. $BRO

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 26.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,077 shares of the financial services provider’s stock after buying an additional 8,507 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Brown & Brown were worth $3,759,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. ST Germain D J Co. Inc. raised its holdings in shares of Brown & Brown by 298.5% in the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Brown & Brown in the second quarter valued at $30,000. Motco acquired a new stake in Brown & Brown in the 2nd quarter valued at $32,000. Bruce G. Allen Investments LLC lifted its position in Brown & Brown by 1,129.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock worth $37,000 after buying an additional 305 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Brown & Brown by 39.3% during the 2nd quarter. TD Private Client Wealth LLC now owns 436 shares of the financial services provider’s stock worth $48,000 after buying an additional 123 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $79.63 on Tuesday. The firm has a market cap of $27.19 billion, a P/E ratio of 23.84, a price-to-earnings-growth ratio of 1.78 and a beta of 0.81. The business’s 50 day moving average is $79.84 and its 200-day moving average is $90.16. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.62. Brown & Brown, Inc. has a 1-year low of $76.17 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.15. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The firm’s quarterly revenue was up 35.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. Equities research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th were given a dividend of $0.165 per share. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 5th. Brown & Brown’s payout ratio is 19.76%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BRO shares. Wolfe Research started coverage on Brown & Brown in a research report on Thursday, November 20th. They issued a “peer perform” rating on the stock. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research note on Monday, November 3rd. UBS Group decreased their target price on shares of Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Finally, Citigroup downgraded Brown & Brown from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $99.80.

Brown & Brown 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.