Crestline Management LP acquired a new position in Brown & Brown, Inc. (NYSE:BRO) in the fourth quarter, Holdings Channel reports. The firm acquired 96,886 shares of the financial services provider’s stock, valued at approximately $4,986,000. Brown & Brown comprises about 0.5% of Crestline Management LP’s holdings, making the stock its 13th largest position.
Other institutional investors and hedge funds have also made changes to their positions in the company. Simplex Trading LLC bought a new stake in shares of Brown & Brown in the 4th quarter worth approximately $101,000. Cutler Group LP lifted its holdings in shares of Brown & Brown by 212.2% in the 4th quarter. Cutler Group LP now owns 2,482 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 1,687 shares during the last quarter. Invictus RG bought a new stake in shares of Brown & Brown in the 3rd quarter worth approximately $248,000. Wolverine Trading LLC purchased a new position in shares of Brown & Brown in the third quarter worth $273,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Brown & Brown by 50.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,519 shares of the financial services provider’s stock worth $335,000 after buying an additional 2,197 shares during the period. Hedge funds and other institutional investors own 72.22% of the company’s stock.
Shares of Brown & Brown, Inc. (BRO) traded up $0.04 during midday trading on Wednesday, hitting $52.84. 26,919 shares of the company traded hands, compared to its average volume of 678,031. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. Brown & Brown, Inc. has a 12 month low of $41.10 and a 12 month high of $53.87. The stock has a market capitalization of $7,348.91, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 2.23 and a beta of 0.70.
Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.05. The business had revenue of $474.30 million for the quarter, compared to the consensus estimate of $449.89 million. Brown & Brown had a net margin of 21.24% and a return on equity of 11.19%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. equities analysts predict that Brown & Brown, Inc. will post 2.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Thursday, February 1st. Brown & Brown’s payout ratio is currently 21.43%.
Several research analysts recently commented on BRO shares. SunTrust Banks raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. Zacks Investment Research raised shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Tuesday, January 2nd. Wells Fargo & Co reaffirmed a “hold” rating and issued a $52.00 target price on shares of Brown & Brown in a research note on Monday, January 22nd. Citigroup set a $49.00 target price on shares of Brown & Brown and gave the stock a “sell” rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $53.00 target price on shares of Brown & Brown in a research note on Wednesday, January 24th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $48.63.
About Brown & Brown
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.
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