Mount Lucas Management LP Has $1.52 Million Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Mount Lucas Management LP reduced its holdings in Brown & Brown, Inc. (NYSE:BRO) by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,863 shares of the financial services provider’s stock after selling 766 shares during the period. Mount Lucas Management LP’s holdings in Brown & Brown were worth $1,516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Brown & Brown in the 3rd quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Brown & Brown during the 4th quarter worth about $28,000. Ashton Thomas Securities LLC acquired a new stake in Brown & Brown in the third quarter worth $29,000. Y.D. More Investments Ltd grew its holdings in shares of 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 valued at $30,000 after buying an additional 162 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Brown & Brown in the 4th quarter valued at $31,000. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Performance

NYSE BRO opened at $118.70 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm’s fifty day moving average price is $108.13 and its two-hundred day moving average price is $106.64. The firm has a market capitalization of $33.94 billion, a P/E ratio of 34.31, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $120.61.

Brown & Brown (NYSE:BRO) last announced its earnings results 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%. As a group, research analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.51%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Analyst Ratings Changes

Several brokerages have issued reports on BRO. Wells Fargo & Company increased their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Barclays raised their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Bank of America upped 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. Morgan Stanley began coverage on shares of Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective on the stock. Finally, Royal Bank of Canada increased their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $113.17.

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.