Rockefeller Capital Management L.P. Boosts Stock Position in Brown & Brown, Inc. $BRO

Rockefeller Capital Management L.P. lifted its position in Brown & Brown, Inc. (NYSE:BRO) by 163.0% in the 4th quarter, HoldingsChannel reports. The firm owned 62,498 shares of the financial services provider’s stock after purchasing an additional 38,732 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Brown & Brown were worth $4,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Brown & Brown by 38.3% in the 1st quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock worth $4,132,000 after buying an additional 9,264 shares during the period. Focus Partners Wealth raised its position in Brown & Brown by 5.2% during the 1st quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock worth $1,387,000 after buying an additional 547 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Brown & Brown by 1,824.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 53,103 shares of the financial services provider’s stock valued at $5,888,000 after acquiring an additional 50,344 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Brown & Brown by 27.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 223 shares during the last quarter. Finally, Cary Street Partners Financial LLC boosted its holdings in shares of Brown & Brown by 60.9% in the 2nd quarter. Cary Street Partners Financial LLC now owns 933 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 353 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Buying and Selling at Brown & Brown

In related news, Director H Palmer Proctor, Jr. purchased 2,000 shares of Brown & Brown stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the transaction, the director directly owned 47,621 shares in the company, valued at approximately $2,719,159.10. This trade represents a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 13.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BRO has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Brown & Brown from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Weiss Ratings lowered shares of Brown & Brown from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday. Keefe, Bruyette & Woods cut their price target on Brown & Brown from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Citizens Jmp began coverage on Brown & Brown in a research note on Thursday, May 21st. They set a “market outperform” rating and a $70.00 price objective for the company. Finally, Bank of America decreased their price objective on Brown & Brown from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $78.44.

Brown & Brown Trading Up 5.6%

Shares of NYSE:BRO opened at $64.25 on Friday. The business’s 50 day moving average price is $59.82 and its 200-day moving average price is $68.47. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $111.09. The firm has a market capitalization of $21.78 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 2.80 and a beta of 0.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The firm’s revenue was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 EPS. On average, equities research analysts forecast that Brown & Brown, Inc. will post 4.51 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were given a $0.165 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio (DPR) is 21.22%.

About Brown & Brown

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.