Charles Schwab Investment Management Inc. Has $138.39 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Charles Schwab Investment Management Inc. increased its position in Brown & Brown, Inc. (NYSE:BRO) by 3.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,356,535 shares of the financial services provider’s stock after acquiring an additional 40,881 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Brown & Brown were worth $138,394,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BRO. Brooklyn Investment Group acquired a new position in Brown & Brown in the third quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown in the fourth quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new position in Brown & Brown in the third quarter worth approximately $29,000. Y.D. More Investments Ltd increased its holdings in Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after buying an additional 162 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Brown & Brown in the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Morgan Stanley assumed coverage on Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. Bank of America increased their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reduced their price objective 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. Wells Fargo & Company increased 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. Finally, Barclays raised their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Stock Performance

Brown & Brown stock opened at $118.70 on Friday. 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 stock has a fifty day moving average price of $107.81 and a two-hundred day moving average price of $106.50. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $120.61. The firm has a market capitalization of $33.94 billion, a P/E ratio of 34.31, a P/E/G ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. 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 dividend payout ratio (DPR) is presently 17.34%.

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.