1,941,098 Shares in Brown & Brown, Inc. (NYSE:BRO) Acquired by Madison Investment Advisors LLC

Madison Investment Advisors LLC acquired a new position in Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,941,098 shares of the financial services provider’s stock, valued at approximately $198,031,000. Brown & Brown accounts for 2.2% of Madison Investment Advisors LLC’s holdings, making the stock its 7th biggest position. Madison Investment Advisors LLC owned approximately 0.68% of Brown & Brown at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. lifted its position in Brown & Brown by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock valued at $1,316,259,000 after purchasing an additional 94,121 shares in the last quarter. Barclays PLC boosted its position in Brown & Brown by 17.8% during the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after acquiring an additional 371,980 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Brown & Brown by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock worth $138,394,000 after purchasing an additional 40,881 shares in the last quarter. FMR LLC boosted its position in shares of Brown & Brown by 42.4% in the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after purchasing an additional 330,661 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in Brown & Brown by 11,337.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider’s stock worth $1,109,000 after acquiring an additional 1,099,199 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

NYSE BRO opened at $117.31 on Thursday. 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 firm has a market capitalization of $33.54 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 2.93 and a beta of 0.85. The company’s fifty day moving average is $108.80 and its two-hundred day moving average is $106.89. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $121.31.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Analyst Ratings Changes

Several equities analysts recently weighed in on BRO shares. Morgan Stanley started coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target for the company. Royal Bank of Canada upped their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Barclays boosted 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. Keefe, Bruyette & Woods decreased their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Finally, Bank of America increased their price target 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.