Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co grew its position in Brown & Brown, Inc. (NYSE:BRO) by 12.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,194 shares of the financial services provider’s stock after purchasing an additional 2,657 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Brown & Brown were worth $2,468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mogy Joel R Investment Counsel Inc. lifted its holdings in 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 buying an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC increased its position 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 buying an additional 6,805 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Brown & Brown by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock valued at $138,394,000 after buying an additional 40,881 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Brown & Brown by 19.9% during the fourth quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock worth $31,055,000 after acquiring an additional 50,510 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in 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 valued at $17,225,000 after purchasing an additional 54,246 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BRO has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Bank of America increased their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada raised their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued 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 issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $112.67.

Brown & Brown Stock Performance

Shares of NYSE:BRO opened at $122.97 on Friday. The firm’s 50 day simple moving average is $113.33 and its 200 day simple moving average is $108.28. 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 company has a market capitalization of $35.16 billion, a price-to-earnings ratio of 35.54, a P/E/G ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $123.24.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping 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%. As a group, sell-side analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. 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.