Brown & Brown, Inc. (NYSE:BRO) Position Raised by SkyView Investment Advisors LLC

SkyView Investment Advisors LLC grew its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,045 shares of the financial services provider’s stock after acquiring an additional 161 shares during the quarter. SkyView Investment Advisors LLC’s holdings in Brown & Brown were worth $833,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. grew its position in Brown & Brown by 0.7% in the 2nd quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock worth $1,144,893,000 after purchasing an additional 86,824 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in 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 purchasing an additional 28,180 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in 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 purchasing an additional 687,783 shares during the period. Barclays PLC grew its position in Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after buying an additional 371,980 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in Brown & Brown by 105.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock valued at $184,930,000 after buying an additional 1,059,711 shares during the period. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 1.1 %

Brown & Brown stock opened at $104.11 on Thursday. Brown & Brown, Inc. has a 52 week low of $69.13 and a 52 week high of $114.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $29.77 billion, a price-to-earnings ratio of 28.37, a P/E/G ratio of 2.51 and a beta of 0.84. The company has a 50 day moving average price of $107.97 and a 200 day moving average price of $100.88.

Brown & Brown (NYSE:BRO) last issued its 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 business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. Brown & Brown’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. Research analysts forecast that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The business also recently announced 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 of this dividend was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.58%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BRO. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Wells Fargo & Company upped their target price on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Barclays lifted their price target on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Jefferies Financial Group upped their price objective on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Bank of America raised their target price on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Brown & Brown currently has an average rating of “Moderate Buy” and an average price target of $109.46.

About Brown & Brown

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.