New Age Alpha Advisors LLC Grows Position in Brown & Brown, Inc. (NYSE:BRO)

New Age Alpha Advisors LLC boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 81,733.5% during the 4th quarter, Holdings Channel reports. The fund owned 129,297 shares of the financial services provider’s stock after buying an additional 129,139 shares during the period. New Age Alpha Advisors LLC’s holdings in Brown & Brown were worth $13,191,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BRO. Mogy Joel R Investment Counsel Inc. raised its stake in shares of Brown & Brown by 324.3% during the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after acquiring an additional 14,740 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in Brown & Brown by 4.4% in the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after purchasing an additional 6,805 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Brown & Brown by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock worth $138,394,000 after purchasing an additional 40,881 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Brown & Brown by 19.9% during the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock valued at $31,055,000 after purchasing an additional 50,510 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Brown & Brown by 47.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 168,838 shares of the financial services provider’s stock worth $17,225,000 after purchasing an additional 54,246 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 1.1 %

BRO opened at $123.08 on Friday. The business’s 50 day moving average is $112.98 and its two-hundred day moving average is $108.14. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $123.24. The firm has a market cap of $35.19 billion, a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.49%. Brown & Brown’s payout ratio is 17.34%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BRO. Royal Bank of Canada boosted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their target price on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Bank of America lifted their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods cut their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $128.00 target price on shares of Brown & Brown in a report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $112.67.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.