Triad Investment Management Makes New Investment in Brown & Brown, Inc. $BRO

Triad Investment Management bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 54,122 shares of the financial services provider’s stock, valued at approximately $4,314,000. Brown & Brown accounts for about 4.4% of Triad Investment Management’s investment portfolio, making the stock its 8th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BRO. AQR Capital Management LLC increased its stake in Brown & Brown by 38.3% during the 1st quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock worth $4,132,000 after acquiring an additional 9,264 shares during the period. Focus Partners Wealth lifted its position in shares of Brown & Brown by 5.2% during the 1st quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock valued at $1,387,000 after acquiring an additional 547 shares during the period. Level Four Advisory Services LLC lifted its position in shares of Brown & Brown by 15.9% during the 2nd quarter. Level Four Advisory Services LLC now owns 2,375 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 326 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Brown & Brown by 12.8% during the 2nd quarter. New York State Common Retirement Fund now owns 129,125 shares of the financial services provider’s stock worth $14,316,000 after purchasing an additional 14,703 shares in the last quarter. Finally, Lido Advisors LLC increased its position in shares of Brown & Brown by 193.1% in the second quarter. Lido Advisors LLC now owns 18,751 shares of the financial services provider’s stock worth $2,079,000 after purchasing an additional 12,354 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

NYSE:BRO opened at $64.35 on Thursday. The stock’s 50-day simple moving average is $69.94 and its 200 day simple moving average is $79.03. The firm has a market capitalization of $21.91 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.64 and a beta of 0.83. 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, Inc. has a twelve month low of $63.29 and a twelve month high of $125.68.

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

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s dividend payout ratio is currently 20.63%.

Analysts Set New Price Targets

BRO has been the subject of several recent analyst reports. Royal Bank Of Canada assumed coverage on shares of Brown & Brown in a research report on Tuesday, March 17th. They set a “sector perform” rating and a $76.00 price objective for the company. Jefferies Financial Group decreased their target price on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Wells Fargo & Company dropped their target price on shares of Brown & Brown from $82.00 to $78.00 and set an “equal weight” rating for the company in a research report on Friday, February 13th. Argus raised shares of Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. Finally, BMO Capital Markets reduced their price target on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research report on Thursday, January 29th. Four analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $89.33.

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.