SlateStone Wealth LLC Has $1.61 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

SlateStone Wealth LLC boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,750 shares of the financial services provider’s stock after buying an additional 350 shares during the quarter. SlateStone Wealth LLC’s holdings in Brown & Brown were worth $1,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Brown & Brown during the 3rd quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown during the 4th quarter valued at $28,000. Y.D. More Investments Ltd raised its stake in Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares during the last quarter. R Squared Ltd acquired a new position in Brown & Brown during the 4th quarter valued at $31,000. Finally, SBI Securities Co. Ltd. acquired a new position in Brown & Brown during the 4th quarter valued at $37,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Up 0.3 %

Shares of Brown & Brown stock opened at $118.21 on Friday. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $121.25. The company has a 50-day simple moving average of $109.79 and a 200 day simple moving average of $107.18. 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 stock has a market capitalization of $33.80 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. Brown & Brown’s payout ratio is presently 17.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley assumed coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target on the stock. Royal Bank of Canada boosted their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Bank of America boosted their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $113.17.

About Brown & Brown

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.