TAP Consulting LLC Purchases 4,380 Shares of Brown & Brown, Inc. (NYSE:BRO)

TAP Consulting LLC increased its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 18.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 28,681 shares of the financial services provider’s stock after buying an additional 4,380 shares during the period. TAP Consulting LLC’s holdings in Brown & Brown were worth $2,926,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC increased its stake in shares of Brown & Brown by 2.1% in the 3rd quarter. Empowered Funds LLC now owns 20,684 shares of the financial services provider’s stock valued at $2,143,000 after acquiring an additional 418 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Brown & Brown by 48.3% in the third quarter. Thrivent Financial for Lutherans now owns 235,617 shares of the financial services provider’s stock worth $24,410,000 after acquiring an additional 76,694 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Brown & Brown during the third quarter valued at approximately $688,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Brown & Brown during the third quarter worth approximately $646,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Brown & Brown by 9.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 46,666 shares of the financial services provider’s stock worth $4,835,000 after purchasing an additional 4,146 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.6 %

NYSE:BRO opened at $119.93 on Thursday. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $121.25. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $110.53 and its 200 day moving average is $107.41. The stock has a market capitalization of $34.29 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

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 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%. Sell-side analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.50%. Brown & Brown’s dividend payout ratio is currently 17.34%.

Wall Street Analyst Weigh In

A number of brokerages have commented on BRO. Barclays boosted their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Royal Bank of Canada increased their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Bank of America raised 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. Finally, Wells Fargo & Company increased their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $113.17.

Brown & Brown 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.