Virtu Financial LLC Has $387,000 Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Virtu Financial LLC increased its position in Brown & Brown, Inc. (NYSE:BRO) by 76.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,791 shares of the financial services provider’s stock after acquiring an additional 1,648 shares during the quarter. Virtu Financial LLC’s holdings in Brown & Brown were worth $387,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Madison Investment Advisors LLC bought a new stake in Brown & Brown during the 4th quarter worth approximately $198,031,000. Proficio Capital Partners LLC grew its stake in shares of Brown & Brown by 11,337.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider’s stock worth $1,109,000 after purchasing an additional 1,099,199 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Brown & Brown in the fourth quarter worth $71,915,000. Zurich Insurance Group Ltd FI increased its holdings in Brown & Brown by 258.0% in the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after purchasing an additional 465,988 shares during the period. Finally, Barclays PLC raised its position in Brown & Brown by 17.8% during the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after purchasing an additional 371,980 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on BRO shares. Keefe, Bruyette & Woods reduced their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. 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 report on Wednesday, January 29th. Bank of America raised their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Royal Bank of Canada boosted their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $128.00 price objective on shares of Brown & Brown in a research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $112.67.

Brown & Brown Trading Up 0.3 %

BRO opened at $121.75 on Thursday. The company has a fifty day moving average price of $112.28 and a two-hundred day moving average price of $107.94. Brown & Brown, Inc. has a 1-year low of $80.33 and a 1-year high of $122.61. The company has a market cap of $34.81 billion, a P/E ratio of 35.19, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 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%. Analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

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

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.