TD Asset Management Inc Has $13.10 Million Stake in Brown & Brown, Inc. $BRO

TD Asset Management Inc reduced its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 37.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,719 shares of the financial services provider’s stock after selling 85,379 shares during the quarter. TD Asset Management Inc’s holdings in Brown & Brown were worth $13,104,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of 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 buying an additional 1,705,570 shares during the period. Principal Financial Group Inc. boosted its holdings in 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 valued at $1,445,888,000 after acquiring an additional 1,821,229 shares during the last quarter. State Street Corp increased its position in 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 during the period. Geode Capital Management LLC increased its position in Brown & Brown by 16.6% in the second quarter. Geode Capital Management LLC now owns 7,369,576 shares of the financial services provider’s stock worth $813,624,000 after purchasing an additional 1,050,350 shares during the period. Finally, Invesco Ltd. raised its holdings in Brown & Brown by 1.1% during the 2nd quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock worth $461,925,000 after purchasing an additional 46,235 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BRO. Mizuho upgraded shares of Brown & Brown from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $84.00 to $85.00 in a research report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brown & Brown in a research report on Monday, December 29th. Keefe, Bruyette & Woods upgraded Brown & Brown from an “underperform” rating to a “market perform” rating and cut their price target for the company from $80.00 to $73.00 in a report on Thursday, January 29th. Citigroup downgraded Brown & Brown from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Finally, BMO Capital Markets decreased their price objective on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating for the company in a research report on Thursday, January 29th. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $90.43.

Brown & Brown Stock Performance

NYSE:BRO opened at $71.70 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $24.41 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 2.17 and a beta of 0.79. The stock has a fifty day moving average price of $75.34 and a 200-day moving average price of $83.35. Brown & Brown, Inc. has a fifty-two week low of $65.68 and a fifty-two week high of $125.68.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data 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. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The company’s revenue was up 35.7% on a year-over-year basis. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. Brown & Brown’s dividend payout ratio (DPR) is 20.63%.

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.