Brown & Brown, Inc. $BRO Stock Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. grew its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 29,629.1% during the third quarter, Holdings Channel reports. The institutional investor owned 122,484 shares of the financial services provider’s stock after purchasing an additional 122,072 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Brown & Brown were worth $7,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Equitable Trust Co. increased its holdings in Brown & Brown by 1.7% in the 1st quarter. Equitable Trust Co. now owns 10,901 shares of the financial services provider’s stock worth $711,000 after acquiring an additional 182 shares during the last quarter. CX Institutional lifted its holdings in Brown & Brown by 3.1% during the third quarter. CX Institutional now owns 6,242 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 189 shares during the last quarter. Financial Enhancement Group LLC lifted its holdings in Brown & Brown by 3.0% during the first quarter. Financial Enhancement Group LLC now owns 8,969 shares of the financial services provider’s stock valued at $607,000 after purchasing an additional 261 shares during the last quarter. CWC Advisors LLC. boosted its position in Brown & Brown by 3.5% during the first quarter. CWC Advisors LLC. now owns 8,484 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 289 shares during the period. Finally, Patton Fund Management Inc. boosted its position in Brown & Brown by 10.6% during the first quarter. Patton Fund Management Inc. now owns 3,123 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 299 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BRO shares. Morgan Stanley reduced their target price on shares of Brown & Brown from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, October 6th. Citizens Jmp dropped their price target on shares of Brown & Brown from $78.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Monday, October 12th. Wells Fargo & Company cut their price objective on shares of Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating for the company in a report on Monday, October 12th. Citigroup reaffirmed a “market outperform” rating on shares of Brown & Brown in a report on Monday, October 12th. Finally, Mizuho reduced their price objective on shares of Brown & Brown from $83.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Brown & Brown has a consensus rating of “Hold” and a consensus price target of $76.00.

Brown & Brown Stock Performance

NYSE:BRO opened at $69.32 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11. Brown & Brown, Inc. has a 52-week low of $53.81 and a 52-week high of $90.46. The firm has a market cap of $23.20 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.16 and a beta of 0.60. The business’s fifty day moving average is $67.17 and its 200 day moving average is $64.94.

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

Brown & Brown Announces Dividend

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

Brown & Brown Profile

Brown & Brown, Inc is an insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities, individuals and other organizations identify, manage and transfer risk by arranging insurance coverage and providing related advisory services.

Its operations include retail insurance brokerage, national programs, wholesale brokerage and services. Brown & Brown offers property and casualty insurance, employee benefits, personal insurance, surety and other specialized coverage.