PensionDanmark Pensionsforsikringsaktieselskab Boosts Position in Brown & Brown, Inc. $BRO

PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 10.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,380 shares of the financial services provider’s stock after buying an additional 7,700 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Brown & Brown were worth $5,028,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. ICONIQ Capital LLC grew its stake in Brown & Brown by 5.4% in the 2nd quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 109 shares in the last quarter. Zacks Investment Management raised its stake in shares of Brown & Brown by 0.7% during the third quarter. Zacks Investment Management now owns 17,854 shares of the financial services provider’s stock valued at $1,675,000 after acquiring an additional 125 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Brown & Brown by 13.1% during the fourth quarter. Private Trust Co. NA now owns 1,147 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 133 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Brown & Brown by 2.1% in the third quarter. Moors & Cabot Inc. now owns 6,805 shares of the financial services provider’s stock valued at $638,000 after purchasing an additional 142 shares during the period. Finally, Independent Advisor Alliance boosted its holdings in shares of Brown & Brown by 0.5% in the fourth quarter. Independent Advisor Alliance now owns 33,805 shares of the financial services provider’s stock valued at $2,694,000 after purchasing an additional 162 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on BRO. UBS Group reissued a “neutral” rating and issued a $73.00 price objective (up from $65.00) on shares of Brown & Brown in a research note on Wednesday, July 8th. BMO Capital Markets upped their target price on Brown & Brown from $73.00 to $74.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a research report on Friday, June 26th. Keefe, Bruyette & Woods raised their price target on Brown & Brown from $72.00 to $74.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. raised their price target on Brown & Brown from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $76.47.

Brown & Brown Stock Down 0.1%

Brown & Brown stock opened at $71.37 on Monday. The business has a fifty day moving average of $65.08 and a two-hundred day moving average of $66.07. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. The firm has a market cap of $23.88 billion, a P/E ratio of 22.51, a P/E/G ratio of 3.56 and a beta of 0.59. Brown & Brown, Inc. has a twelve month low of $53.81 and a twelve month high of $98.30.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The company’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 earnings per share. On average, analysts forecast that Brown & Brown, Inc. will post 4.5 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, August 12th. Brown & Brown’s payout ratio is 20.82%.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.