Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Dundas Partners LLP

Dundas Partners LLP grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 503,111 shares of the financial services provider’s stock after buying an additional 23,906 shares during the period. Brown & Brown accounts for 3.6% of Dundas Partners LLP’s holdings, making the stock its 9th biggest position. Dundas Partners LLP owned 0.18% of Brown & Brown worth $51,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in Brown & Brown during the third quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown during the fourth quarter worth about $28,000. Ashton Thomas Securities LLC acquired a new position in Brown & Brown during the third quarter worth about $29,000. Y.D. More Investments Ltd boosted its position in Brown & Brown by 122.7% during the fourth 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 during the last quarter. Finally, R Squared Ltd purchased a new position in Brown & Brown during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $118.70 on Friday. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $120.61. The company has a 50-day simple moving average of $108.13 and a 200-day simple moving average of $106.61. The company has a market cap of $33.94 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (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%. On average, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given 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 0.51%. Brown & Brown’s payout ratio is currently 17.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BRO shares. Barclays lifted their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Bank of America upped their price objective 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. Wells Fargo & Company increased their target price 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. Morgan Stanley began coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective on the stock. Finally, Royal Bank of Canada increased their target price 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. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $113.17.

About Brown & Brown

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.