Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. raised its stake in Brown & Brown, Inc. (NYSE:BRO) by 46.7% during the fourth quarter, Holdings Channel reports. The firm owned 29,746 shares of the financial services provider’s stock after purchasing an additional 9,467 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Brown & Brown were worth $3,035,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in shares of Brown & Brown in the 3rd quarter valued at $26,000. ST Germain D J Co. Inc. raised its stake in shares of Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Brown & Brown in the 3rd quarter valued at $29,000. Versant Capital Management Inc raised its stake in shares of Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 234 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Brown & Brown in the 3rd quarter valued at $58,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BRO. Barclays lifted their price target 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. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods dropped their price target 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. Jefferies Financial Group lifted their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Argus began coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.08.

Brown & Brown Price Performance

BRO opened at $103.58 on Wednesday. Brown & Brown, Inc. has a 1-year low of $73.23 and a 1-year high of $114.15. The company has a 50-day moving average of $106.69 and a 200-day moving average of $103.03. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market capitalization of $29.62 billion, a P/E ratio of 28.22, a PEG ratio of 2.40 and a beta of 0.85.

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

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.58%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, November 6th. Brown & Brown’s payout ratio is presently 16.35%.

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.