Promus Capital LLC Acquires New Shares in Brown & Brown, Inc. (NYSE:BRO)

Promus Capital LLC acquired a new stake in Brown & Brown, Inc. (NYSE:BRO) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,323 shares of the financial services provider’s stock, valued at approximately $135,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in Brown & Brown in the third quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in Brown & Brown in the fourth quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new stake in Brown & Brown in the third quarter valued at about $29,000. Y.D. More Investments Ltd increased its holdings in Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Brown & Brown in the fourth quarter valued at about $31,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.4 %

BRO stock opened at $119.67 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $34.22 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.93 and a beta of 0.86. The business has a 50-day moving average of $107.20 and a 200-day moving average of $106.33. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $120.61.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.50%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BRO. Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Barclays increased their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Wells Fargo & Company increased their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Bank of America increased their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley assumed coverage on Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $113.17.

Brown & Brown Company Profile

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.