Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 15,100 Shares of Brown & Brown, Inc. (NYSE:BRO)

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 20.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 88,443 shares of the financial services provider’s stock after buying an additional 15,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Brown & Brown were worth $9,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in Brown & Brown in the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in Brown & Brown in the 3rd quarter valued at $29,000. Y.D. More Investments Ltd boosted its stake in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd bought a new stake in Brown & Brown in the 4th quarter valued at $31,000. Finally, Versant Capital Management Inc lifted its position in shares of Brown & Brown by 130.7% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 234 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Price Performance

Brown & Brown stock opened at $111.65 on Monday. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $114.15. The stock has a fifty day moving average of $105.28 and a 200-day moving average of $105.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market capitalization of $31.92 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, sell-side analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. Brown & Brown’s payout ratio is presently 17.34%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 target price for the company. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Barclays upped their target price 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. Finally, Wells Fargo & Company upped their target price on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. One research 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.com, the stock currently has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Profile

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.