Brown & Brown, Inc. (NYSE:BRO) Stock Holdings Lifted by NEOS Investment Management LLC

NEOS Investment Management LLC grew its position in Brown & Brown, Inc. (NYSE:BRO) by 28.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,183 shares of the financial services provider’s stock after acquiring an additional 2,483 shares during the quarter. NEOS Investment Management LLC’s holdings in Brown & Brown were worth $1,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Brown & Brown in the third quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Brown & Brown during the 4th quarter worth $28,000. Y.D. More Investments Ltd raised its holdings in shares of Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Brown & Brown in the 4th quarter valued at $31,000. Finally, SBI Securities Co. Ltd. bought a new stake in Brown & Brown in the fourth quarter worth $37,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BRO has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Morgan Stanley restated an “equal weight” rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Royal Bank of Canada upped their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Bank of America upped 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Brown & Brown has an average rating of “Hold” and a consensus price target of $112.67.

Brown & Brown Stock Performance

NYSE BRO opened at $122.97 on Friday. The company’s fifty day moving average is $113.33 and its two-hundred day moving average is $108.31. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $123.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market capitalization of $35.16 billion, a price-to-earnings ratio of 35.54, a P/E/G ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last released its 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%. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is presently 17.34%.

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.