Mackenzie Financial Corp lifted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 13.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 462,328 shares of the financial services provider’s stock after purchasing an additional 54,600 shares during the quarter. Mackenzie Financial Corp owned about 0.17% of Brown & Brown worth $12,742,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc boosted its stake in shares of Brown & Brown by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 24,202,436 shares of the financial services provider’s stock worth $715,666,000 after buying an additional 525,399 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Brown & Brown by 1.3% in the third quarter. BlackRock Inc. now owns 20,523,179 shares of the financial services provider’s stock valued at $606,870,000 after purchasing an additional 268,511 shares during the period. Wells Fargo & Company MN increased its position in shares of Brown & Brown by 1.8% during the third quarter. Wells Fargo & Company MN now owns 12,193,170 shares of the financial services provider’s stock worth $360,551,000 after purchasing an additional 217,552 shares in the last quarter. Select Equity Group L.P. grew its holdings in shares of Brown & Brown by 47.7% during the third quarter. Select Equity Group L.P. now owns 8,259,952 shares of the financial services provider’s stock valued at $244,247,000 after buying an additional 2,668,708 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Brown & Brown by 10.5% during the third quarter. Victory Capital Management Inc. now owns 6,419,474 shares of the financial services provider’s stock valued at $189,824,000 after buying an additional 610,726 shares during the last quarter. 71.63% of the stock is owned by hedge funds and other institutional investors.
BRO stock opened at $29.44 on Thursday. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.17 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.96 and a current ratio of 0.95. Brown & Brown, Inc. has a 1-year low of $24.34 and a 1-year high of $31.55.
Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Brown & Brown had a net margin of 17.09% and a return on equity of 12.03%. The business had revenue of $508.70 million for the quarter, compared to the consensus estimate of $503.52 million. During the same period in the previous year, the company earned $0.24 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, research analysts predict that Brown & Brown, Inc. will post 1.34 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 20th. Investors of record on Wednesday, February 6th were given a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, February 5th. This represents a $0.32 annualized dividend and a yield of 1.09%. Brown & Brown’s dividend payout ratio is currently 26.02%.
BRO has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Monday, December 31st. ValuEngine raised shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Barclays boosted their price objective on shares of Brown & Brown from $23.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, November 12th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Brown & Brown presently has a consensus rating of “Hold” and an average target price of $29.00.
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Brown & Brown Company Profile
Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.
Further Reading: Conference Calls and Individual Investors
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