Capital Fund Management S.A. Has $12.89 Million Stock Holdings in Brown & Brown, Inc. $BRO

Capital Fund Management S.A. grew its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 238.4% in the third quarter, HoldingsChannel reports. The fund owned 137,444 shares of the financial services provider’s stock after acquiring an additional 96,823 shares during the period. Capital Fund Management S.A.’s holdings in Brown & Brown were worth $12,891,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp raised its holdings in shares of Brown & Brown by 22.9% in the third quarter. Mackenzie Financial Corp now owns 28,276 shares of the financial services provider’s stock valued at $2,652,000 after purchasing an additional 5,260 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Brown & Brown by 2.3% during the third quarter. Franklin Resources Inc. now owns 123,362 shares of the financial services provider’s stock worth $11,570,000 after purchasing an additional 2,797 shares during the last quarter. Quadrant Capital Group LLC grew its position in Brown & Brown by 170.1% in the third quarter. Quadrant Capital Group LLC now owns 5,982 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 3,767 shares in the last quarter. FourThought Financial Partners LLC grew its position in Brown & Brown by 102.7% in the third quarter. FourThought Financial Partners LLC now owns 3,917 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 1,985 shares in the last quarter. Finally, Capital World Investors increased its stake in Brown & Brown by 81.1% in the 3rd quarter. Capital World Investors now owns 17,479,389 shares of the financial services provider’s stock valued at $1,639,392,000 after buying an additional 7,827,992 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of recent research reports. UBS Group restated a “neutral” rating and set a $81.00 price objective (down from $90.00) on shares of Brown & Brown in a research note on Thursday, January 29th. BMO Capital Markets dropped their target price on Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a report on Thursday, January 29th. Wells Fargo & Company reduced their price target on Brown & Brown from $82.00 to $78.00 and set an “equal weight” rating for the company in a research report on Friday, February 13th. Morgan Stanley decreased their price target on Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, January 29th. Finally, Mizuho raised Brown & Brown from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $84.00 to $85.00 in a research report on Friday, February 27th. Four equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $90.29.

Brown & Brown Trading Down 1.1%

Shares of NYSE:BRO opened at $67.63 on Friday. Brown & Brown, Inc. has a 12-month low of $65.68 and a 12-month high of $125.68. The business has a 50 day moving average of $73.65 and a 200-day moving average of $81.97. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. The stock has a market cap of $23.02 billion, a PE ratio of 21.14, a P/E/G ratio of 1.83 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.65 billion. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. As a group, equities research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio (DPR) is currently 20.63%.

Brown & Brown 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.