2,015 Shares in Brown & Brown, Inc. (NYSE:BRO) Acquired by Mechanics Bank Trust Department

Mechanics Bank Trust Department purchased a new stake in Brown & Brown, Inc. (NYSE:BRO) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,015 shares of the financial services provider’s stock, valued at approximately $206,000.

Several other hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of Brown & Brown by 0.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock worth $405,638,000 after purchasing an additional 28,180 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Brown & Brown by 24.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after buying an additional 687,783 shares during the last quarter. Barclays PLC grew its stake in Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after buying an additional 371,980 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Brown & Brown by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock worth $136,302,000 after buying an additional 17,934 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Brown & Brown by 42.4% in the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after acquiring an additional 330,661 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Down 0.4 %

Shares of NYSE BRO opened at $105.52 on Tuesday. Brown & Brown, Inc. has a twelve month low of $73.23 and a twelve month high of $114.15. The stock has a market cap of $30.17 billion, a price-to-earnings ratio of 28.75, a P/E/G ratio of 2.14 and a beta of 0.85. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average is $106.19 and its 200-day moving average is $103.47.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. Equities research analysts predict that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a $0.15 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.57%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is presently 16.35%.

Analyst Ratings Changes

A number of equities research analysts recently commented on BRO shares. Wells Fargo & Company increased their price target on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Jefferies Financial Group upped their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Argus initiated coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective for the company. Finally, Barclays upped their target price on shares of 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 investment 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.08.

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.