Intech Investment Management LLC Buys 71,484 Shares of Brown & Brown, Inc. (NYSE:BRO)

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

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Brown & Brown during the third quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Brown & Brown during the fourth quarter worth $28,000. Y.D. More Investments Ltd raised its position in shares of 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 acquiring an additional 162 shares in the last quarter. R Squared Ltd acquired a new position in shares of Brown & Brown in the 4th quarter valued at about $31,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Brown & Brown during the 4th quarter valued at about $37,000. 71.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on BRO. Bank of America boosted 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. Barclays upped their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods decreased their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Wells Fargo & Company lifted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada boosted their target price on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. One 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Trading Up 1.6 %

Shares of BRO stock opened at $120.08 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a market cap of $34.33 billion, a P/E ratio of 34.70, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The business has a 50-day moving average price of $109.79 and a two-hundred day moving average price of $107.20. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $121.25.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating 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%. Equities analysts anticipate 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. Stockholders of record on Wednesday, February 5th were issued 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 dividend yield of 0.50%. 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.