Capitolis Liquid Global Markets LLC Takes $25.22 Million Position in Brown & Brown, Inc. $BRO

Capitolis Liquid Global Markets LLC acquired a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 268,900 shares of the financial services provider’s stock, valued at approximately $25,220,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Brown & Brown by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider’s stock valued at $3,501,264,000 after acquiring an additional 1,705,570 shares during the period. Capital World Investors boosted its position in Brown & Brown by 81.1% during the 3rd quarter. Capital World Investors now owns 17,479,389 shares of the financial services provider’s stock worth $1,639,392,000 after acquiring an additional 7,827,992 shares during the period. Principal Financial Group Inc. grew its stake in shares of Brown & Brown by 13.4% in the third quarter. Principal Financial Group Inc. now owns 15,416,190 shares of the financial services provider’s stock worth $1,445,888,000 after purchasing an additional 1,821,229 shares in the last quarter. State Street Corp grew its stake in shares of Brown & Brown by 11.3% in the second quarter. State Street Corp now owns 12,460,821 shares of the financial services provider’s stock worth $1,381,531,000 after purchasing an additional 1,262,139 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Brown & Brown by 1.1% during the second quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock valued at $461,925,000 after purchasing an additional 46,235 shares during the period. 71.01% of the stock is owned by institutional investors.

Brown & Brown Price Performance

NYSE:BRO opened at $68.29 on Friday. The business’s 50-day moving average price is $73.46 and its 200 day moving average price is $81.67. The firm has a market cap of $23.25 billion, a P/E ratio of 21.34, a PEG ratio of 1.83 and a beta of 0.79. Brown & Brown, Inc. has a 52-week low of $65.68 and a 52-week high of $125.68. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The business’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio is currently 20.63%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BRO. Jefferies Financial Group cut their price objective on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Morgan Stanley lowered their target price on shares of Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 29th. Weiss Ratings restated a “hold (c)” rating on shares of Brown & Brown in a research report on Monday, December 29th. Mizuho raised shares of Brown & Brown from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $84.00 to $85.00 in a research note on Friday, February 27th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Brown & Brown in a report on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $90.29.

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.