Elo Mutual Pension Insurance Co Purchases 2,657 Shares of Brown & Brown, Inc. (NYSE:BRO)

Elo Mutual Pension Insurance Co lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 12.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,194 shares of the financial services provider’s stock after buying an additional 2,657 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Brown & Brown were worth $2,468,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BRO. Madison Investment Advisors LLC bought a new position in shares of Brown & Brown in the fourth quarter worth $198,031,000. Vanguard Group Inc. increased its holdings in Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock valued at $3,054,493,000 after buying an additional 1,335,964 shares during the period. Proficio Capital Partners LLC raised its position in shares of Brown & Brown by 11,337.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider’s stock valued at $1,109,000 after buying an additional 1,099,199 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Brown & Brown during the 4th quarter worth approximately $71,915,000. Finally, Zurich Insurance Group Ltd FI boosted its position in shares of Brown & Brown by 258.0% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock worth $66,985,000 after acquiring an additional 465,988 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

BRO has been the subject of several recent analyst reports. 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 note on Friday, January 10th. Morgan Stanley reissued an “equal weight” rating and set a $128.00 target price on shares of Brown & Brown in a research note on Tuesday. Bank of America raised their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Royal Bank of Canada increased their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $112.67.

Brown & Brown Stock Up 0.1 %

BRO opened at $122.97 on Friday. The firm has a market capitalization of $35.16 billion, a P/E ratio of 35.54, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $123.24. The company has a fifty day moving average price of $113.33 and a 200-day moving average price of $108.28. 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 announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Equities research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio 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.