Brown & Brown (BRO) Position Raised by Van Berkom & Associates Inc.

Van Berkom & Associates Inc. increased its position in shares of Brown & Brown (NYSE:BRO) by 29.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 781,712 shares of the financial services provider’s stock after purchasing an additional 177,605 shares during the period. Van Berkom & Associates Inc. owned 0.28% of Brown & Brown worth $19,887,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BRO. Cutler Group LP raised its holdings in Brown & Brown by 212.2% during the fourth quarter. Cutler Group LP now owns 2,482 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 1,687 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Brown & Brown by 3.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 519,266 shares of the financial services provider’s stock worth $26,722,000 after purchasing an additional 18,443 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Brown & Brown during the fourth quarter worth approximately $360,000. Clarkston Capital Partners LLC raised its holdings in Brown & Brown by 1.7% during the fourth quarter. Clarkston Capital Partners LLC now owns 2,593,654 shares of the financial services provider’s stock worth $133,469,000 after purchasing an additional 44,485 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Brown & Brown by 148.8% during the fourth quarter. SG Americas Securities LLC now owns 67,255 shares of the financial services provider’s stock worth $3,461,000 after purchasing an additional 40,225 shares in the last quarter. 47.13% of the stock is currently owned by hedge funds and other institutional investors.

In other Brown & Brown news, Chairman Hyatt J. Brown sold 35,561 shares of Brown & Brown stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $53.13, for a total transaction of $1,889,355.93. Following the transaction, the chairman now directly owns 27,957 shares in the company, valued at approximately $1,485,355.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Hyatt J. Brown sold 140,000 shares of Brown & Brown stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $52.85, for a total transaction of $7,399,000.00. Following the transaction, the chairman now owns 27,957 shares in the company, valued at $1,477,527.45. The disclosure for this sale can be found here. 17.12% of the stock is currently owned by corporate insiders.

NYSE BRO opened at $27.24 on Tuesday. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 2.24 and a beta of 0.69. Brown & Brown has a 1 year low of $27.30 and a 1 year high of $27.61. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, April 23rd. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.04. The company had revenue of $501.50 million for the quarter, compared to analysts’ expectations of $491.00 million. Brown & Brown had a return on equity of 12.04% and a net margin of 21.92%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share. analysts anticipate that Brown & Brown will post 1.22 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 18th. Shareholders of record on Wednesday, May 9th will be issued a $0.075 dividend. The ex-dividend date is Tuesday, May 8th. This represents a $0.30 annualized dividend and a dividend yield of 1.10%. Brown & Brown’s dividend payout ratio is currently 31.25%.

Several brokerages recently commented on BRO. Citigroup set a $24.50 target price on Brown & Brown and gave the stock a “sell” rating in a report on Friday, February 9th. Raymond James boosted their target price on Brown & Brown from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 26th. ValuEngine raised Brown & Brown from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Deutsche Bank dropped their price target on Brown & Brown from $52.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, March 29th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $26.50 price target on shares of Brown & Brown in a report on Wednesday, January 24th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Brown & Brown currently has a consensus rating of “Hold” and an average price target of $25.45.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.

Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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