Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC increased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 12.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,869 shares of the financial services provider’s stock after buying an additional 1,174 shares during the period. Proficio Capital Partners LLC’s holdings in Brown & Brown were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Studio Investment Management LLC increased its holdings in shares of Brown & Brown by 1.5% in the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after acquiring an additional 96 shares during the period. Journey Strategic Wealth LLC increased its holdings in shares of Brown & Brown by 2.3% in the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $458,000 after acquiring an additional 99 shares during the period. CWA Asset Management Group LLC increased its holdings in shares of Brown & Brown by 3.7% in the 4th quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 103 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Brown & Brown by 3.4% in the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 103 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Brown & Brown by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,664 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 113 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

NYSE:BRO opened at $119.80 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $121.25. The stock has a market cap of $34.25 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The firm’s fifty day simple moving average is $111.23 and its 200-day simple moving average is $107.58.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.50%. Brown & Brown’s dividend payout ratio is presently 17.34%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Bank of America boosted their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Morgan Stanley assumed coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective on the stock. Barclays boosted their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.