Bank of Montreal Can Acquires 10,679 Shares of Brown & Brown, Inc. (NYSE:BRO)

Bank of Montreal Can grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 377,450 shares of the financial services provider’s stock after purchasing an additional 10,679 shares during the quarter. Bank of Montreal Can owned about 0.13% of Brown & Brown worth $38,745,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of Brown & Brown by 0.7% in the second quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock worth $1,144,893,000 after buying an additional 86,824 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Brown & Brown by 0.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock worth $405,638,000 after buying an additional 28,180 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Brown & Brown by 24.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after buying an additional 687,783 shares in the last quarter. Royal London Asset Management Ltd. lifted its holdings in shares of Brown & Brown by 105.1% in the second quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock worth $184,930,000 after buying an additional 1,059,711 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Brown & Brown by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,553,396 shares of the financial services provider’s stock worth $138,899,000 after buying an additional 114,688 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Down 0.2 %

BRO stock opened at $113.20 on Friday. The company has a market capitalization of $32.37 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 2.57 and a beta of 0.82. Brown & Brown, Inc. has a one year low of $69.13 and a one year high of $114.15. The company’s 50 day moving average price is $106.73 and its two-hundred day moving average price is $99.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. As a group, analysts predict that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, November 6th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.53%. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Argus assumed coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price target on the stock. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Bank of America raised their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays raised their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group raised their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $107.42.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.