FourThought Financial Partners LLC Takes $223,000 Position in Brown & Brown, Inc. (NYSE:BRO)

FourThought Financial Partners LLC acquired a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,182 shares of the financial services provider’s stock, valued at approximately $223,000.

Several other institutional investors have also made changes to their positions in BRO. Principal Financial Group Inc. raised its position in Brown & Brown by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock worth $1,316,259,000 after purchasing an additional 94,121 shares in the last quarter. Barclays PLC raised its holdings in shares of Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after buying an additional 371,980 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Brown & Brown by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock worth $136,302,000 after buying an additional 17,934 shares during the period. FMR LLC boosted its stake in Brown & Brown by 42.4% in the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after buying an additional 330,661 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in Brown & Brown by 6.2% in the 3rd quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider’s stock valued at $80,749,000 after buying an additional 45,766 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Down 0.0 %

NYSE:BRO opened at $114.76 on Thursday. The company has a market cap of $32.81 billion, a price-to-earnings ratio of 33.17, a P/E/G ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The stock’s fifty day moving average price is $105.95 and its two-hundred day moving average price is $105.79. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $115.34.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Wall Street Analysts Forecast Growth

BRO has been the subject of several recent analyst reports. Barclays increased their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Morgan Stanley assumed coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 target price for the company. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Bank of America raised their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada boosted their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.