18,219 Brown & Brown, Inc. $BRO Shares Bought by Mather Group LLC.

Mather Group LLC. boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 235.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,952 shares of the financial services provider’s stock after purchasing an additional 18,219 shares during the quarter. Mather Group LLC.’s holdings in Brown & Brown were worth $1,665,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Brown & Brown in the 2nd quarter worth approximately $1,418,571,000. Principal Financial Group Inc. boosted its stake in Brown & Brown by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 15,608,720 shares of the financial services provider’s stock worth $1,017,847,000 after purchasing an additional 246,172 shares during the period. Deutsche Bank AG purchased a new stake in Brown & Brown during the 2nd quarter valued at approximately $266,941,000. Bank of America Corp DE grew its holdings in Brown & Brown by 45.2% during the 1st quarter. Bank of America Corp DE now owns 3,623,179 shares of the financial services provider’s stock valued at $236,268,000 after buying an additional 1,128,417 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in Brown & Brown by 5.1% during the 1st quarter. Royal Bank of Canada now owns 3,569,784 shares of the financial services provider’s stock valued at $232,786,000 after buying an additional 173,320 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

Shares of BRO stock traded up $1.44 during trading hours on Friday, hitting $69.42. The stock had a trading volume of 2,220,368 shares, compared to its average volume of 2,491,204. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $90.46. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. The stock’s 50-day moving average price is $67.21 and its two-hundred day moving average price is $64.92. The stock has a market capitalization of $23.23 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 2.12 and a beta of 0.60.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, July 27th. The financial services provider reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%. Brown & Brown’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Equities analysts forecast that Brown & Brown, Inc. will post 4.49 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were issued a dividend of $0.1650 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, August 12th. Brown & Brown’s dividend payout ratio is 20.82%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TD Cowen began coverage on shares of Brown & Brown in a research report on Monday. They set a “buy” rating and a $82.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on shares of Brown & Brown from $80.00 to $83.00 and gave the stock a “neutral” rating in a research report on Thursday, October 1st. Keefe, Bruyette & Woods upgraded shares of Brown & Brown from an “underperform” rating to an “outperform” rating and set a $77.00 target price for the company in a research report on Monday, October 12th. Weiss Ratings raised shares of Brown & Brown from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Finally, BMO Capital Markets raised their target price on shares of Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $76.00.

Brown & Brown Profile

Brown & Brown, Inc is an independent insurance brokerage, risk management and employee benefits firm headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance placement, risk consulting and related services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialized insurance programs. Brown & Brown also operates wholesale brokerage businesses that provide coverage solutions and access to insurance markets for retail agents and brokers, including products designed for specialty and hard-to-place risks.

Founded in 1939 by J.