Global X Japan Co. Ltd. Buys 617 Shares of Brown & Brown, Inc. (NYSE:BRO)

Global X Japan Co. Ltd. grew its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 14.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,941 shares of the financial services provider’s stock after buying an additional 617 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Brown & Brown were worth $504,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in Brown & Brown during the third quarter worth $26,000. ST Germain D J Co. Inc. raised its stake in shares of Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Brown & Brown in the 3rd quarter worth about $29,000. Y.D. More Investments Ltd grew its position in Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after buying an additional 162 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Brown & Brown during the 4th quarter worth approximately $31,000. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BRO shares. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Barclays raised their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Bank of America increased their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Morgan Stanley began coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective for the company. Finally, Keefe, Bruyette & Woods dropped their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Up 0.9 %

Shares of NYSE BRO opened at $107.71 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12-month low of $78.40 and a 12-month high of $114.15. The firm’s 50-day moving average price is $104.85 and its 200-day moving average price is $104.52. The stock has a market capitalization of $30.80 billion, a price-to-earnings ratio of 31.13, a P/E/G ratio of 2.75 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, equities research analysts anticipate that Brown & Brown, Inc. will post 4.15 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 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.