Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.0% in the 4th quarter, Holdings Channel reports. The firm owned 577,705 shares of the financial services provider’s stock after purchasing an additional 5,790 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Brown & Brown were worth $58,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. boosted its holdings in shares of Brown & Brown by 324.3% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock valued at $1,967,000 after buying an additional 14,740 shares during the period. Sanctuary Advisors LLC boosted its stake 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 valued at $18,104,000 after acquiring an additional 6,805 shares during the period. Quantbot Technologies LP acquired a new position in Brown & Brown in the third quarter valued at approximately $9,832,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Brown & Brown by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after purchasing an additional 17,934 shares during the last quarter. Finally, Peak Financial Advisors LLC acquired a new stake in shares of Brown & Brown during the 4th quarter worth approximately $3,037,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

BRO opened at $108.64 on Monday. The business has a 50 day moving average price of $104.65 and a two-hundred day moving average price of $104.74. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.73. The company has a market capitalization of $31.07 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86. Brown & Brown, Inc. has a 1-year low of $78.70 and a 1-year high of $114.15.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data 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%. Research analysts predict that Brown & Brown, Inc. will post 4.15 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

Wall Street Analysts Forecast Growth

BRO has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Barclays boosted their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. 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. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Keefe, Bruyette & Woods cut their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. 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 company’s stock. Based on data from MarketBeat, Brown & Brown presently has a consensus 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.