Atomi Financial Group Inc. Has $847,000 Holdings in Brown & Brown, Inc. (NYSE:BRO)

Atomi Financial Group Inc. increased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 38.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,299 shares of the financial services provider’s stock after purchasing an additional 2,304 shares during the quarter. Atomi Financial Group Inc.’s holdings in Brown & Brown were worth $847,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its stake in shares of Brown & Brown by 4.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after buying an additional 6,805 shares during the last quarter. Quantbot Technologies LP acquired a new position in Brown & Brown during the third quarter valued at approximately $9,832,000. Charles Schwab Investment Management Inc. grew its stake in Brown & Brown by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after purchasing an additional 17,934 shares in the last quarter. Peak Financial Advisors LLC bought a new stake in shares of Brown & Brown during the 4th quarter worth approximately $3,037,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of Brown & Brown by 48.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 235,617 shares of the financial services provider’s stock worth $24,410,000 after purchasing an additional 76,694 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BRO shares. Royal Bank of Canada boosted their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays upped their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Bank of America lifted their price target on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley started 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, Wells Fargo & Company lifted their target price on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Brown & Brown has an average rating of “Hold” and an average target price of $112.08.

Brown & Brown Trading Down 0.4 %

Shares of BRO stock opened at $105.22 on Thursday. The stock has a market cap of $30.09 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. Brown & Brown, Inc. has a 1 year low of $75.79 and a 1 year high of $114.15. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $105.92 and a 200 day simple moving average of $103.59.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. On average, research analysts predict that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.57%. Brown & Brown’s payout ratio is presently 16.35%.

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.