Moment Partners LLC Takes $457,000 Position in Brown & Brown, Inc. (NYSE:BRO)

Moment Partners LLC bought a new position in Brown & Brown, Inc. (NYSE:BRO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,481 shares of the financial services provider’s stock, valued at approximately $457,000.

A number of other large investors have also added to or reduced their stakes in the stock. Mogy Joel R Investment Counsel Inc. boosted its stake in shares of Brown & Brown by 324.3% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after buying an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Brown & Brown by 4.4% in the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock valued at $18,104,000 after acquiring an additional 6,805 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Brown & Brown by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock worth $138,394,000 after purchasing an additional 40,881 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Brown & Brown by 19.9% during the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock valued at $31,055,000 after purchasing an additional 50,510 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in shares of Brown & Brown by 47.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 168,838 shares of the financial services provider’s stock valued at $17,225,000 after purchasing an additional 54,246 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

BRO has been the topic of a number of research reports. Morgan Stanley reissued an “equal weight” rating and issued a $128.00 price objective on shares of Brown & Brown in a report on Tuesday. Keefe, Bruyette & Woods cut their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company upped their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada lifted their target price on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Bank of America upped their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $112.67.

Brown & Brown Stock Performance

NYSE:BRO opened at $121.75 on Thursday. The stock has a 50-day moving average price of $112.28 and a 200 day moving average price of $107.94. The stock has a market capitalization of $34.81 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $122.61. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.49%. Brown & Brown’s dividend payout ratio is currently 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.