Brown & Brown, Inc. $BRO Holdings Boosted by Running Oak Capital LLC

Running Oak Capital LLC grew its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 10.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,571 shares of the financial services provider’s stock after purchasing an additional 15,531 shares during the quarter. Running Oak Capital LLC’s holdings in Brown & Brown were worth $15,716,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BRO. AQR Capital Management LLC grew its stake in Brown & Brown by 38.3% during the 1st quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock worth $4,132,000 after buying an additional 9,264 shares during the last quarter. Focus Partners Wealth grew its position in shares of Brown & Brown by 5.2% during the first quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock worth $1,387,000 after acquiring an additional 547 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Brown & Brown by 2.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,922 shares of the financial services provider’s stock worth $3,761,000 after acquiring an additional 929 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Brown & Brown by 10.7% in the 2nd quarter. QRG Capital Management Inc. now owns 25,838 shares of the financial services provider’s stock worth $2,865,000 after acquiring an additional 2,507 shares during the period. Finally, Marks Group Wealth Management Inc lifted its position in Brown & Brown by 0.9% in the 2nd quarter. Marks Group Wealth Management Inc now owns 87,901 shares of the financial services provider’s stock valued at $9,746,000 after purchasing an additional 790 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

BRO has been the topic of several analyst reports. UBS Group restated a “neutral” rating and issued a $81.00 price target (down previously from $90.00) on shares of Brown & Brown in a research note on Thursday. Keefe, Bruyette & Woods raised Brown & Brown from an “underperform” rating to a “market perform” rating and decreased their price objective for the stock from $80.00 to $73.00 in a report on Thursday, January 29th. Citigroup downgraded Brown & Brown from a “buy” rating to a “neutral” rating in a research note on Monday, November 3rd. Bank of America decreased their price target on Brown & Brown from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, January 27th. Finally, Barclays cut their price objective on shares of Brown & Brown from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 27th. Three research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, Brown & Brown has a consensus rating of “Hold” and a consensus target price of $90.64.

Brown & Brown Price Performance

NYSE:BRO opened at $71.32 on Tuesday. The company has a quick ratio of 2.10, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $79.13 and its 200 day moving average price is $86.92. Brown & Brown, Inc. has a 52-week low of $70.92 and a 52-week high of $125.68. The firm has a market cap of $24.35 billion, a P/E ratio of 22.29, a PEG ratio of 2.18 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The business’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th will be given a $0.165 dividend. The ex-dividend date is Wednesday, February 4th. This represents a $0.66 annualized dividend and a yield of 0.9%. Brown & Brown’s payout ratio is 20.63%.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.