Brown & Brown, Inc. (NYSE:BRO) Position Boosted by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 17.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 484,779 shares of the financial services provider’s stock after acquiring an additional 71,484 shares during the quarter. Brown & Brown makes up 1.5% of Intech Investment Management LLC’s portfolio, making the stock its 19th biggest holding. Intech Investment Management LLC owned 0.17% of Brown & Brown worth $49,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in Brown & Brown in the third quarter worth $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Brown & Brown in the 4th quarter valued at approximately $28,000. Y.D. More Investments Ltd lifted its holdings in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 162 shares during the last quarter. R Squared Ltd acquired a new position in Brown & Brown during the fourth quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Brown & Brown in the fourth quarter valued at approximately $37,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Trading Up 1.6 %

NYSE:BRO opened at $120.08 on Tuesday. The business’s 50-day simple moving average is $109.79 and its 200-day simple moving average is $107.20. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $121.25. 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 $34.33 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data 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 net margin of 20.68% and a return on equity of 17.81%. Sell-side analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were issued 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 payout ratio is currently 17.34%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley initiated coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective on the stock. Royal Bank of Canada increased their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Finally, Bank of America increased their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and an average price target of $113.17.

Brown & Brown 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.