Amundi Buys 353,797 Shares of Brown & Brown, Inc. (NYSE:BRO)

Amundi raised its stake in Brown & Brown, Inc. (NYSE:BRO) by 108.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 678,532 shares of the financial services provider’s stock after buying an additional 353,797 shares during the period. Amundi owned about 0.24% of Brown & Brown worth $69,570,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in shares of Brown & Brown by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock valued at $1,316,259,000 after buying an additional 94,121 shares during the last quarter. Barclays PLC grew its position 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 valued at $255,537,000 after buying an additional 371,980 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Brown & Brown by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock valued at $138,394,000 after buying an additional 40,881 shares during the last quarter. FMR LLC grew its position in shares of 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 during the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of Brown & Brown by 11,337.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider’s stock valued at $1,109,000 after buying an additional 1,099,199 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Down 1.5 %

BRO stock opened at $117.84 on Wednesday. The stock’s 50 day simple moving average is $108.48 and its 200 day simple moving average is $106.78. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $121.25. 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 company has a market cap of $33.70 billion, a P/E ratio of 34.06, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 17.34%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BRO. Bank of America boosted their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada boosted their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Morgan Stanley began coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective on the stock. Finally, Barclays boosted their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. 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, the company has a consensus rating of “Hold” and an average target price of $113.17.

About Brown & Brown

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.