Moors & Cabot Inc. Invests $260,000 in Brown & Brown, Inc. (BRO) Stock

Moors & Cabot Inc. bought a new stake in Brown & Brown, Inc. (NYSE:BRO) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,784 shares of the financial services provider’s stock, valued at approximately $260,000.

A number of other hedge funds have also recently made changes to their positions in BRO. Oregon Public Employees Retirement Fund raised its stake in Brown & Brown by 2,656.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,498,507 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 2,407,850 shares during the last quarter. Norges Bank acquired a new position in Brown & Brown in the 4th quarter valued at about $52,865,000. APG Asset Management N.V. raised its stake in Brown & Brown by 39.5% in the 4th quarter. APG Asset Management N.V. now owns 4,501,200 shares of the financial services provider’s stock valued at $108,519,000 after purchasing an additional 1,273,500 shares during the last quarter. BlackRock Inc. raised its stake in Brown & Brown by 4.0% in the 4th quarter. BlackRock Inc. now owns 21,351,938 shares of the financial services provider’s stock valued at $588,460,000 after purchasing an additional 828,759 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Brown & Brown by 33.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,379,855 shares of the financial services provider’s stock valued at $65,588,000 after purchasing an additional 601,160 shares during the last quarter. 71.51% of the stock is owned by hedge funds and other institutional investors.

BRO opened at $31.81 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 2.35 and a beta of 0.75. Brown & Brown, Inc. has a 12 month low of $25.72 and a 12 month high of $32.54.



Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, April 22nd. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.36 by $0.05. The company had revenue of $617.50 million during the quarter, compared to analysts’ expectations of $600.51 million. Brown & Brown had a return on equity of 12.47% and a net margin of 17.23%. The firm’s revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, sell-side analysts forecast that Brown & Brown, Inc. will post 1.36 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Wednesday, May 8th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.01%. The ex-dividend date was Tuesday, May 7th. Brown & Brown’s dividend payout ratio (DPR) is 26.02%.

In other news, EVP Anthony T. Strianese sold 35,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $29.17, for a total transaction of $1,020,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert W. Lloyd sold 10,601 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $29.29, for a total value of $310,503.29. The disclosure for this sale can be found here. 16.69% of the stock is owned by insiders.

BRO has been the subject of several analyst reports. SunTrust Banks boosted their target price on shares of Brown & Brown to $36.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Zacks Investment Research upgraded Brown & Brown from a “sell” rating to a “hold” rating in a report on Monday, March 11th. Finally, Wells Fargo & Co restated a “hold” rating and issued a $28.00 price target on shares of Brown & Brown in a report on Sunday, April 21st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Brown & Brown has an average rating of “Hold” and a consensus target price of $29.56.

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Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.

Further Reading: How are the companies in the S&P 500 selected?

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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