Amalgamated Bank Raises Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Amalgamated Bank boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,904 shares of the financial services provider’s stock after purchasing an additional 421 shares during the quarter. Amalgamated Bank’s holdings in Brown & Brown were worth $5,295,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Brown & Brown by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock worth $1,316,259,000 after purchasing an additional 94,121 shares during the period. Barclays PLC lifted its stake in Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after acquiring an additional 371,980 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 buying an additional 17,934 shares in the last quarter. FMR LLC increased its stake in Brown & Brown by 42.4% in the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after purchasing an additional 330,661 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in Brown & Brown by 6.2% in the third quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider’s stock valued at $80,749,000 after acquiring an additional 45,766 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. 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 for the company. Keefe, Bruyette & Woods dropped their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Barclays increased their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Wells Fargo & Company boosted their price target on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, 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 report on Wednesday, January 29th. One equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Trading Up 1.5 %

NYSE:BRO opened at $116.46 on Friday. The stock has a market capitalization of $33.30 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $117.15. The stock has a fifty day moving average price of $105.95 and a two-hundred day moving average price of $105.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

Brown & Brown Company 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.