Townsquare Capital LLC Has $8.10 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Townsquare Capital LLC grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 4.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 78,145 shares of the financial services provider’s stock after buying an additional 3,385 shares during the quarter. Townsquare Capital LLC’s holdings in Brown & Brown were worth $8,096,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BRO. BNP Paribas Financial Markets lifted its position in shares of Brown & Brown by 0.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 375,594 shares of the financial services provider’s stock worth $38,912,000 after purchasing an additional 1,438 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Brown & Brown during the 3rd quarter worth about $26,000. Quantbot Technologies LP acquired a new position in shares of Brown & Brown during the 3rd quarter worth about $9,832,000. Prospector Partners LLC lifted its position in shares of Brown & Brown by 0.3% during the 3rd quarter. Prospector Partners LLC now owns 284,474 shares of the financial services provider’s stock worth $29,472,000 after purchasing an additional 917 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Brown & Brown by 42.4% during the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after purchasing an additional 330,661 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

BRO has been the subject of several research analyst reports. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Jefferies Financial Group boosted their price objective on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Argus assumed coverage on Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price target for the company. Wells Fargo & Company upped their price target on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada upped their price target on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $107.42.

Brown & Brown Trading Down 0.2 %

BRO stock opened at $113.20 on Thursday. Brown & Brown, Inc. has a 1-year low of $69.13 and a 1-year high of $114.15. The firm has a market cap of $32.37 billion, a P/E ratio of 30.84, a P/E/G ratio of 2.57 and a beta of 0.82. The business’s 50 day moving average is $106.52 and its 200-day moving average is $99.38. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company posted $0.71 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Equities analysts anticipate that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a $0.15 dividend. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s dividend payout ratio is currently 16.35%.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.