Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $3.31 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BROFree Report) by 15.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,331 shares of the financial services provider’s stock after purchasing an additional 6,272 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Brown & Brown were worth $3,306,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BRO. Independent Advisor Alliance grew its position in Brown & Brown by 0.3% during the third quarter. Independent Advisor Alliance now owns 51,561 shares of the financial services provider’s stock worth $3,601,000 after buying an additional 155 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Brown & Brown by 3.0% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,416 shares of the financial services provider’s stock valued at $373,000 after acquiring an additional 156 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Brown & Brown by 3.3% during the second quarter. Fifth Third Bancorp now owns 4,876 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 157 shares in the last quarter. Advisor Partners II LLC increased its position in shares of Brown & Brown by 1.3% in the first quarter. Advisor Partners II LLC now owns 11,845 shares of the financial services provider’s stock worth $680,000 after purchasing an additional 157 shares during the last quarter. Finally, Stephens Inc. AR raised its position in shares of Brown & Brown by 0.7% during the 1st quarter. Stephens Inc. AR now owns 25,801 shares of the financial services provider’s stock valued at $1,481,000 after buying an additional 172 shares in the last quarter. 70.33% of the stock is currently owned by institutional investors.

Brown & Brown Price Performance

Brown & Brown stock opened at $80.94 on Tuesday. Brown & Brown, Inc. has a 12-month low of $52.82 and a 12-month high of $81.12. The company has a current ratio of 1.92, a quick ratio of 1.85 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $74.18 and a 200-day moving average price of $72.56. The firm has a market capitalization of $23.04 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 2.87 and a beta of 0.78.

Brown & Brown (NYSE:BROGet Free Report) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. The business had revenue of $1.03 billion during the quarter. During the same quarter last year, the business posted $0.50 earnings per share. As a group, equities research analysts forecast that Brown & Brown, Inc. will post 3.2 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Friday, February 2nd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Thursday, February 1st. Brown & Brown’s payout ratio is currently 16.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BRO shares. The Goldman Sachs Group upgraded Brown & Brown from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $84.00 to $83.00 in a research report on Monday, January 8th. UBS Group boosted their price objective on shares of Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Jefferies Financial Group lowered shares of Brown & Brown from a “buy” rating to a “hold” rating and reduced their target price for the company from $85.00 to $78.00 in a report on Tuesday, January 9th. Raymond James boosted their price target on shares of Brown & Brown from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $70.00 to $75.00 and gave the company an “underperform” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus price target of $82.70.

View Our Latest Stock Report on BRO

Brown & Brown Profile

(Free Report)

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.

See Also

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

Receive News & Ratings for Brown & Brown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown and related companies with MarketBeat.com's FREE daily email newsletter.