Brown & Brown, Inc. $BRO Shares Acquired by ABN Amro Investment Solutions

ABN Amro Investment Solutions lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 6.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 461,567 shares of the financial services provider’s stock after purchasing an additional 27,870 shares during the quarter. ABN Amro Investment Solutions’ holdings in Brown & Brown were worth $36,787,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Cornerstone Planning Group LLC lifted its position in shares of Brown & Brown by 423.1% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 220 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Brown & Brown during the second quarter worth about $30,000. Board of the Pension Protection Fund acquired a new stake in shares of Brown & Brown during the fourth quarter worth about $40,000. Maseco LLP acquired a new stake in shares of Brown & Brown during the fourth quarter worth about $60,000. Finally, eCIO Inc. acquired a new stake in shares of Brown & Brown during the fourth quarter worth about $67,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $57.42 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $113.83. The firm has a market capitalization of $19.46 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.68 and a beta of 0.66. The stock’s 50-day simple moving average is $64.09 and its 200-day simple moving average is $72.35.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the company earned $1.29 EPS. The business’s quarterly revenue was up 35.4% on a year-over-year basis. As a group, equities research analysts forecast that Brown & Brown, Inc. will post 4.51 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, May 11th. Brown & Brown’s dividend payout ratio (DPR) is 21.22%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. bought 2,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average price of $57.10 per share, with a total value of $114,200.00. Following the transaction, the director owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. The trade was a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 13.13% of the company’s stock.

Wall Street Analysts Forecast Growth

BRO has been the topic of several research reports. Barclays reduced their price target on shares of Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. BMO Capital Markets reduced their price target on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research report on Thursday, January 29th. Royal Bank Of Canada reduced their price target on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 29th. Bank of America reduced their price target on Brown & Brown from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Finally, Wells Fargo & Company reduced their price target on Brown & Brown from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.73.

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.