Tredje AP fonden Acquires 10,117 Shares of Brown & Brown, Inc. $BRO

Tredje AP fonden grew its holdings in Brown & Brown, Inc. (NYSE:BRO) by 53.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,904 shares of the financial services provider’s stock after purchasing an additional 10,117 shares during the period. Tredje AP fonden’s holdings in Brown & Brown were worth $2,711,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BRO. Raiffeisen Bank International AG raised its position in Brown & Brown by 2,296.3% in the 3rd quarter. Raiffeisen Bank International AG now owns 9,585 shares of the financial services provider’s stock worth $892,000 after buying an additional 9,185 shares during the last quarter. Studio Investment Management LLC raised its holdings in shares of Brown & Brown by 3.9% during the third quarter. Studio Investment Management LLC now owns 6,132 shares of the financial services provider’s stock valued at $575,000 after purchasing an additional 230 shares during the last quarter. CenterBook Partners LP bought a new stake in Brown & Brown in the 3rd quarter worth approximately $1,097,000. First National Bank of Omaha bought a new stake in shares of Brown & Brown in the third quarter worth $3,916,000. Finally, Maridea Wealth Management LLC bought a new stake in shares of Brown & Brown in the third quarter worth $1,097,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $69.57 on Friday. The company has a market capitalization of $23.68 billion, a P/E ratio of 21.74, a P/E/G ratio of 2.10 and a beta of 0.79. Brown & Brown, Inc. has a 1-year low of $65.68 and a 1-year high of $125.68. The firm’s 50 day simple moving average is $76.41 and its two-hundred day simple moving average is $84.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm earned $0.86 EPS. The company’s revenue was up 35.7% on a year-over-year basis. Research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s payout ratio is presently 20.63%.

Wall Street Analysts Forecast Growth

BRO has been the topic of several research reports. Morgan Stanley dropped their target price on Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 29th. Argus upgraded shares of Brown & Brown to a “hold” rating in a research note on Tuesday, January 27th. Keefe, Bruyette & Woods upgraded shares of Brown & Brown from an “underperform” rating to a “market perform” rating and cut their target price for the company from $80.00 to $73.00 in a research report on Thursday, January 29th. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research report on Monday, November 3rd. Finally, Citigroup cut shares of Brown & Brown from a “buy” rating to a “neutral” rating in a research note on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and an average price target of $90.36.

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.