Edgestream Partners L.P. Has $2.24 Million Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Edgestream Partners L.P. increased its stake in Brown & Brown, Inc. (NYSE:BRO) by 6.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,650 shares of the financial services provider’s stock after purchasing an additional 1,309 shares during the period. Edgestream Partners L.P.’s holdings in Brown & Brown were worth $2,243,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Great Valley Advisor Group Inc. acquired a new position in shares of Brown & Brown in the 2nd quarter valued at approximately $1,512,000. Assenagon Asset Management S.A. raised its position in Brown & Brown by 162.3% during the second quarter. Assenagon Asset Management S.A. now owns 488,483 shares of the financial services provider’s stock valued at $43,675,000 after purchasing an additional 302,240 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Brown & Brown by 27.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 31,105 shares of the financial services provider’s stock valued at $2,781,000 after purchasing an additional 6,675 shares in the last quarter. Quantbot Technologies LP bought a new stake in Brown & Brown during the third quarter worth $9,832,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Brown & Brown by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after purchasing an additional 17,934 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America boosted their price target on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Argus started coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price for the company. Barclays lifted their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Jefferies Financial Group increased their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada boosted their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and an average price target of $107.42.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $111.59 on Tuesday. The firm has a market cap of $31.91 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.60 and a beta of 0.82. Brown & Brown, Inc. has a 52 week low of $69.13 and a 52 week high of $114.15. The firm’s fifty day moving average is $107.39 and its 200-day moving average is $100.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. Sell-side analysts predict that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, November 6th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio is currently 16.35%.

About Brown & Brown

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.