Victory Capital Management Inc. Grows Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Victory Capital Management Inc. increased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 19.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 304,405 shares of the financial services provider’s stock after purchasing an additional 50,510 shares during the quarter. Victory Capital Management Inc.’s holdings in Brown & Brown were worth $31,055,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Brown & Brown in the 3rd quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Brown & Brown in the 4th quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new position in Brown & Brown in the 3rd quarter valued at about $29,000. Y.D. More Investments Ltd lifted its holdings 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 in the last quarter. Finally, R Squared Ltd purchased a new position in Brown & Brown in the 4th quarter valued at about $31,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BRO. Bank of America upped their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Morgan Stanley began coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company upped their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada upped their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. One equities 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Trading Down 0.0 %

NYSE BRO opened at $118.70 on Monday. The company has a 50-day moving average of $108.13 and a 200-day moving average of $106.64. The company has a market cap 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, Inc. has a 12 month low of $80.33 and a 12 month high of $120.61. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

Brown & Brown (NYSE:BRO) last posted 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 net margin of 20.68% and a return on equity of 17.81%. As a group, equities analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Wednesday, February 5th. 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.