Quantum Capital Management LLC NJ Has $41.84 Million Position in Brown & Brown, Inc. $BRO

Quantum Capital Management LLC NJ lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 641,613 shares of the financial services provider’s stock after selling 8,242 shares during the period. Brown & Brown accounts for about 5.4% of Quantum Capital Management LLC NJ’s portfolio, making the stock its 11th largest position. Quantum Capital Management LLC NJ’s holdings in Brown & Brown were worth $41,840,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Brown & Brown in the fourth quarter valued at about $516,837,000. Capital International Investors acquired a new stake in Brown & Brown in the 4th quarter valued at about $371,654,000. Van Lanschot Kempen Investment Management N.V. increased its position in Brown & Brown by 132.8% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,538,584 shares of the financial services provider’s stock valued at $361,725,000 after acquiring an additional 2,589,048 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Brown & Brown by 53.0% in the fourth quarter. Deutsche Bank AG now owns 3,929,461 shares of the financial services provider’s stock worth $313,178,000 after acquiring an additional 1,361,934 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Brown & Brown by 1,679.0% in the third quarter. AQR Capital Management LLC now owns 1,204,318 shares of the financial services provider’s stock worth $112,953,000 after acquiring an additional 1,136,623 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

Shares of NYSE:BRO opened at $65.39 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 1-year low of $53.81 and a 1-year high of $104.25. The stock has a market capitalization of $22.16 billion, a P/E ratio of 21.03, a P/E/G ratio of 3.08 and a beta of 0.60. The business has a 50-day moving average price of $61.85 and a two-hundred day moving average price of $66.82.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the firm earned $1.29 EPS. The company’s revenue for the quarter was up 35.4% on a year-over-year basis. Equities analysts predict that Brown & Brown, Inc. will post 4.5 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 12th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, August 12th. Brown & Brown’s dividend payout ratio is currently 21.22%.

Wall Street Analyst Weigh In

Several analysts have recently commented on BRO shares. Barclays increased their price target on shares of Brown & Brown from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Citigroup restated an “outperform” rating on shares of Brown & Brown in a research report on Friday, July 10th. Keefe, Bruyette & Woods upped their price objective on Brown & Brown from $72.00 to $74.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Mizuho upped their price objective on Brown & Brown from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research report on Friday, June 26th. Five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $78.62.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. acquired 2,000 shares of Brown & Brown stock in a transaction on Tuesday, May 5th. The shares were purchased at an average cost of $57.10 per share, with a total value of $114,200.00. Following the completion of the purchase, the director owned 47,621 shares in the company, valued at $2,719,159.10. The trade was a 4.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 13.13% of the company’s stock.

About Brown & Brown

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.