Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 441,693 shares of the financial services provider’s stock after purchasing an additional 10,076 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Brown & Brown were worth $45,062,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BRO. Brooklyn Investment Group purchased a new position in shares of Brown & Brown in the 3rd quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in Brown & Brown in the fourth quarter worth approximately $28,000. Y.D. More Investments Ltd grew its holdings 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 worth $30,000 after acquiring an additional 162 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Brown & Brown in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on BRO shares. Bank of America increased their target price on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Royal Bank of Canada increased their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Wells Fargo & Company increased their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $128.00 price objective on shares of Brown & Brown in a report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $112.67.

Brown & Brown Stock Up 0.1 %

Shares of NYSE:BRO opened at $122.97 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market cap of $35.16 billion, a P/E ratio of 35.54, a P/E/G ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 1-year low of $80.33 and a 1-year high of $123.24. The firm has a fifty day moving average price of $113.33 and a 200 day moving average price of $108.28.

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

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

Brown & Brown 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.