847 Shares in Brown & Brown, Inc. (NYSE:BRO) Bought by Acropolis Investment Management LLC

Acropolis Investment Management LLC purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 847 shares of the financial services provider’s stock, valued at approximately $105,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BRO. Vontobel Holding Ltd. increased its stake in Brown & Brown by 13.5% during the 4th quarter. Vontobel Holding Ltd. now owns 5,112 shares of the financial services provider’s stock worth $522,000 after buying an additional 607 shares during the period. Bank Pictet & Cie Europe AG acquired a new position in Brown & Brown during the 4th quarter worth $907,000. Sheaff Brock Investment Advisors LLC grew its holdings in Brown & Brown by 8.8% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 4,005 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 324 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Brown & Brown during the 4th quarter worth $903,000. Finally, Principal Financial Group Inc. grew its holdings in Brown & Brown by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock worth $1,316,259,000 after acquiring an additional 94,121 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.4%

Brown & Brown stock opened at $107.06 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $112.27 and a two-hundred day moving average price of $111.00. The firm has a market capitalization of $30.69 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 2.93 and a beta of 0.84. Brown & Brown, Inc. has a 52-week low of $88.31 and a 52-week high of $125.68.

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

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown’s payout ratio is 16.71%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Edward Jones assumed coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They set a “buy” rating for the company. The Goldman Sachs Group lowered shares of Brown & Brown from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $126.00 to $119.00 in a report on Tuesday, May 13th. Morgan Stanley reissued an “equal weight” rating and set a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. Barclays raised their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Brown & Brown from $100.00 to $102.00 and gave the company an “underperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $118.85.

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.