AXQ Capital LP Acquires New Holdings in Brown & Brown, Inc. (NYSE:BRO)

AXQ Capital LP acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,992 shares of the financial services provider’s stock, valued at approximately $1,223,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new stake in Brown & Brown in the third quarter worth about $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Brown & Brown in the fourth quarter worth about $28,000. Y.D. More Investments Ltd boosted its holdings in Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 162 shares in the last quarter. R Squared Ltd acquired a new stake in Brown & Brown in the fourth quarter worth about $31,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Brown & Brown in the fourth quarter worth about $37,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

NYSE BRO opened at $118.38 on Friday. Brown & Brown, Inc. has a 1-year low of $80.33 and a 1-year high of $121.25. The company has a market capitalization of $33.85 billion, a P/E ratio of 34.21, a PEG ratio of 2.93 and a beta of 0.86. The business has a 50 day moving average price of $111.55 and a 200 day moving average price of $107.67. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share 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%. Sell-side analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

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

Wall Street Analysts Forecast Growth

BRO has been the subject of several research analyst reports. Keefe, Bruyette & Woods reduced their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Morgan Stanley assumed coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target for the company. Bank of America lifted their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Royal Bank of Canada lifted their price target on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. 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’s stock. Based on data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus price target 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.