Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP grew its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 564.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,664 shares of the financial services provider’s stock after purchasing an additional 116,959 shares during the period. Two Sigma Investments LP’s holdings in Brown & Brown were worth $14,044,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Brown & Brown during the fourth quarter worth about $28,000. Johnson Financial Group Inc. increased its stake in Brown & Brown by 534.1% during the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 235 shares during the period. Y.D. More Investments Ltd increased its stake in Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd acquired a new position in shares of Brown & Brown in the fourth quarter worth $31,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Brown & Brown in the fourth quarter worth $37,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Up 0.4%

BRO opened at $110.83 on Friday. Brown & Brown, Inc. has a one year low of $85.97 and a one year high of $125.68. The company has a market cap of $31.76 billion, a P/E ratio of 32.03, a PEG ratio of 2.93 and a beta of 0.87. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The business’s 50-day simple moving average is $115.55 and its 200-day simple moving average is $111.21.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company posted $1.14 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Monday, May 12th. Brown & Brown’s payout ratio is 16.71%.

Analysts Set New Price Targets

Several research firms have commented on BRO. The Goldman Sachs Group downgraded shares of Brown & Brown from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $126.00 to $119.00 in a research note on Tuesday, May 13th. Bank of America lifted their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Barclays lifted their price objective on Brown & Brown from $119.00 to $121.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. Royal Bank of Canada lifted their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $116.85.

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.