Ngam Advisors L.P. Has $9,041,000 Position in Brown & Brown Inc. (BRO)
Ngam Advisors L.P. lowered its position in shares of Brown & Brown Inc. (NYSE:BRO) by 2.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 239,735 shares of the company’s stock after selling 6,744 shares during the period. Ngam Advisors L.P. owned about 0.17% of Brown & Brown worth $9,041,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. AMP Capital Investors Ltd acquired a new stake in shares of Brown & Brown during the first quarter worth about $399,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Brown & Brown by 1.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 104,295 shares of the company’s stock worth $3,734,000 after buying an additional 1,289 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Brown & Brown by 1.9% in the first quarter. Arizona State Retirement System now owns 60,091 shares of the company’s stock worth $2,151,000 after buying an additional 1,100 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Brown & Brown by 15.6% in the first quarter. Royal Bank of Canada now owns 417,119 shares of the company’s stock worth $14,933,000 after buying an additional 56,336 shares during the last quarter. Finally, Phocas Financial Corp. acquired a new stake in shares of Brown & Brown during the first quarter worth about $4,309,000. 72.39% of the stock is currently owned by institutional investors and hedge funds.
Brown & Brown Inc. (NYSE:BRO) traded down 0.23% during mid-day trading on Tuesday, reaching $42.77. 218,085 shares of the company’s stock traded hands. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 23.51 and a beta of 0.67. The firm’s 50-day moving average price is $38.56 and its 200 day moving average price is $37.15. Brown & Brown Inc. has a one year low of $28.41 and a one year high of $43.36.
Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Thursday, October 20th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The firm had revenue of $462.30 million for the quarter, compared to the consensus estimate of $455.56 million. Brown & Brown had a net margin of 14.84% and a return on equity of 11.80%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.47 EPS. On average, equities analysts forecast that Brown & Brown Inc. will post $1.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 9th. Stockholders of record on Friday, October 28th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.25%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Wednesday, October 26th. Brown & Brown’s dividend payout ratio (DPR) is presently 29.67%.
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A number of equities research analysts have issued reports on BRO shares. Barclays PLC boosted their target price on shares of Brown & Brown from $31.00 to $33.00 and gave the company an “underweight” rating in a report on Friday, September 30th. Citigroup Inc. upped their price target on shares of Brown & Brown from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, October 11th. Deutsche Bank AG cut shares of Brown & Brown from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a report on Monday, October 24th. Finally, BMO Capital Markets cut shares of Brown & Brown from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $39.00 to $37.00 in a report on Friday, November 4th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $35.92.
In other news, EVP Richard Freebourn sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $42.90, for a total transaction of $1,072,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert W. Lloyd sold 2,971 shares of the firm’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $37.32, for a total transaction of $110,877.72. The disclosure for this sale can be found here. Insiders own 17.49% of the company’s stock.
Brown & Brown Company Profile
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 customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services.
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