Nykredit A S Invests $4.08 Million in Brown & Brown, Inc. $BRO

Nykredit A S purchased a new stake in Brown & Brown, Inc. (NYSE:BRO) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 63,553 shares of the financial services provider’s stock, valued at approximately $4,077,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Union Bancaire Privee UBP SA purchased a new stake in shares of Brown & Brown in the first quarter valued at about $25,000. Basepoint Wealth LLC purchased a new position in Brown & Brown during the fourth quarter worth about $27,000. Darwin Wealth Management LLC acquired a new position in Brown & Brown in the 2nd quarter valued at about $30,000. DV Equities LLC acquired a new position in Brown & Brown in the 4th quarter valued at about $33,000. Finally, Allied Private Wealth LLC purchased a new stake in shares of Brown & Brown in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Price Performance

Brown & Brown stock opened at $71.42 on Monday. The company’s 50 day simple moving average is $70.13 and its 200-day simple moving average is $65.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $96.55. The company has a market capitalization of $23.90 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 2.20 and a beta of 0.58.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business posted $1.03 EPS. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. As a group, equities research analysts expect that Brown & Brown, Inc. will post 4.5 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, August 12th. Brown & Brown’s dividend payout ratio (DPR) is currently 20.82%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BMO Capital Markets raised their price target on shares of Brown & Brown from $73.00 to $74.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Citigroup lowered Brown & Brown from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $70.00 to $79.00 in a research report on Wednesday, July 29th. Mizuho raised their target price on Brown & Brown from $81.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Morgan Stanley restated an “underweight” rating and issued a $60.00 target price (up from $56.00) on shares of Brown & Brown in a research report on Wednesday, August 19th. Finally, Raymond James Financial restated an “outperform” rating on shares of Brown & Brown in a research report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $76.80.

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.