Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Brown & Brown, Inc. (NYSE:BRO) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 433,844 shares of the financial services provider’s stock after purchasing an additional 31,110 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Brown & Brown were worth $44,074,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in shares of Brown & Brown in the third quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown in the 4th quarter valued at $28,000. Y.D. More Investments Ltd raised its position in Brown & Brown by 122.7% during the 4th 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. R Squared Ltd acquired a new stake in shares of Brown & Brown in the 4th quarter worth $31,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Brown & Brown in the fourth quarter valued at about $37,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BRO has been the subject of several analyst reports. Royal Bank of Canada increased their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods reduced their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Wells Fargo & Company upped their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley reissued an “equal weight” rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Finally, Bank of America increased their price target 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $112.67.

Brown & Brown Stock Up 0.1 %

BRO stock opened at $122.97 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 company’s 50 day simple moving average is $113.33 and its 200-day simple moving average is $108.31. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $123.24. The firm has a market capitalization of $35.16 billion, a PE ratio of 35.54, a P/E/G ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating 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%. Equities 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 disclosed 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 0.49%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is presently 17.34%.

Brown & Brown Company 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.