New Age Alpha Advisors LLC Has $13.19 Million Stock Position in Brown & Brown, Inc. (NYSE:BRO)

New Age Alpha Advisors LLC boosted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 81,733.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 129,297 shares of the financial services provider’s stock after purchasing an additional 129,139 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Brown & Brown were worth $13,191,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Brown & Brown in the fourth quarter valued at approximately $313,412,000. Madison Investment Advisors LLC bought a new stake in shares of Brown & Brown during the 4th quarter worth $198,031,000. Vanguard Group Inc. raised its holdings in shares of 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 worth $3,054,493,000 after purchasing an additional 1,335,964 shares during the period. Proficio Capital Partners LLC lifted its holdings in Brown & Brown by 11,337.8% during the fourth quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider’s stock valued at $1,109,000 after purchasing an additional 1,099,199 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Brown & Brown during the fourth quarter worth $71,915,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BRO. Bank of America raised their target price 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. Wells Fargo & Company upped their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada raised their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Morgan Stanley reiterated an “equal weight” rating and set a $128.00 target price on shares of Brown & Brown in a report on Tuesday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $112.67.

Brown & Brown Stock Performance

NYSE:BRO opened at $123.08 on Friday. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $123.24. The firm has a market capitalization of $35.19 billion, a PE ratio of 35.57, a P/E/G ratio of 2.93 and a beta of 0.86. The stock has a 50-day simple moving average of $112.98 and a two-hundred day simple moving average of $108.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping 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%. Analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.49%. Brown & Brown’s payout ratio is 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.