Promus Capital LLC Acquires New Holdings in Brown & Brown, Inc. (NYSE:BRO)

Promus Capital LLC acquired a new stake in Brown & Brown, Inc. (NYSE:BRO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,323 shares of the financial services provider’s stock, valued at approximately $135,000.

Other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group bought a new position in Brown & Brown in the 3rd quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in Brown & Brown in the 4th quarter worth approximately $28,000. Ashton Thomas Securities LLC bought a new position in Brown & Brown in the 3rd quarter worth approximately $29,000. Y.D. More Investments Ltd increased its position 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 worth $30,000 after buying an additional 162 shares during the period. Finally, R Squared Ltd bought a new position in Brown & Brown in the 4th quarter worth approximately $31,000. 71.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BRO. Royal Bank of Canada lifted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Bank of America lifted their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Morgan Stanley assumed coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective on the stock. Keefe, Bruyette & Woods lowered their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Finally, Wells Fargo & Company boosted 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Price Performance

Shares of BRO stock opened at $119.67 on Thursday. The stock’s fifty day simple moving average is $107.20 and its 200 day simple moving average is $106.33. 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 firm has a market cap of $34.22 billion, a price-to-earnings ratio of 34.59, a P/E/G 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 $120.61.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating 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%. On average, analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.50%. Brown & Brown’s payout ratio is currently 17.34%.

About Brown & Brown

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.