Capital Returns Management LLC bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) during the fourth quarter, Holdings Channel reports. The institutional investor bought 457,000 shares of the company’s stock, valued at approximately $20,501,000. Brown & Brown accounts for 8.7% of Capital Returns Management LLC’s investment portfolio, making the stock its 5th largest position. Capital Returns Management LLC owned approximately 0.33% of Brown & Brown as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. BB&T Corp purchased a new stake in shares of Brown & Brown during the second quarter valued at $3,532,000. Ngam Advisors L.P. increased its stake in shares of Brown & Brown by 7.9% in the second quarter. Ngam Advisors L.P. now owns 246,479 shares of the company’s stock valued at $9,235,000 after buying an additional 18,127 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Brown & Brown by 2.6% in the second quarter. JPMorgan Chase & Co. now owns 72,111 shares of the company’s stock valued at $2,702,000 after buying an additional 1,810 shares during the period. Prudential Financial Inc. increased its stake in shares of Brown & Brown by 0.7% in the second quarter. Prudential Financial Inc. now owns 91,802 shares of the company’s stock valued at $3,440,000 after buying an additional 660 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Brown & Brown by 6.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,379,425 shares of the company’s stock valued at $89,156,000 after buying an additional 147,400 shares during the period. Institutional investors own 72.27% of the company’s stock.

Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

Brown & Brown, Inc. (NYSE:BRO) traded up 0.64% on Thursday, hitting $43.76. 393,639 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $43.53 and its 200-day moving average price is $40.17. Brown & Brown, Inc. has a 12-month low of $31.33 and a 12-month high of $45.77. The company has a market cap of $6.13 billion, a PE ratio of 24.04 and a beta of 0.73.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 23rd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. Brown & Brown had a net margin of 14.57% and a return on equity of 11.57%. The business earned $433.60 million during the quarter, compared to analysts’ expectations of $431.30 million. During the same quarter in the prior year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts forecast that Brown & Brown, Inc. will post $1.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Friday, February 3rd were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Wednesday, February 1st. Brown & Brown’s payout ratio is 29.67%.

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Several equities research analysts have weighed in on BRO shares. Deutsche Bank AG downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research note on Monday, October 24th. BMO Capital Markets downgraded shares of Brown & Brown from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $39.00 to $37.00 in a research note on Friday, November 4th. Zacks Investment Research cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Monday, December 5th. J P Morgan Chase & Co raised shares of Brown & Brown from an “underweight” rating to a “neutral” rating in a report on Friday, December 16th. Finally, Langen Mcalenn reaffirmed a “buy” rating on shares of Brown & Brown in a report on Friday, December 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $37.80.

In other news, EVP Richard Freebourn sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $42.90, for a total value of $1,072,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jerome Scott Penny sold 10,000 shares of the company’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $43.56, for a total transaction of $435,600.00. The disclosure for this sale can be found here. Corporate insiders own 17.49% of the company’s stock.

About Brown & Brown

Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services in the property, casualty and employee benefits areas. It provides customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services.

5 Day Chart for NYSE:BRO

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