UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $137.38 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 23.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,326,076 shares of the financial services provider’s stock after selling 416,203 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.46% of Brown & Brown worth $137,381,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BRO. Brooklyn Investment Group acquired a new stake in Brown & Brown during the 3rd quarter worth approximately $26,000. Crewe Advisors LLC raised its holdings in shares of Brown & Brown by 330.4% during the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 228 shares during the period. ST Germain D J Co. Inc. lifted its position in Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Brown & Brown in the 3rd quarter worth $29,000. Finally, Blue Trust Inc. increased its holdings in Brown & Brown by 142.3% during the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 323 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BRO. Bank of America boosted their price target on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada upped their price target on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Argus initiated coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective on the stock. Finally, Wells Fargo & Company raised their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $107.42.

Brown & Brown Stock Down 0.1 %

Brown & Brown stock opened at $113.10 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The company’s 50-day moving average is $107.21 and its 200-day moving average is $99.91. The firm has a market capitalization of $32.34 billion, a PE ratio of 30.82, a P/E/G ratio of 2.60 and a beta of 0.82. Brown & Brown, Inc. has a fifty-two week low of $69.13 and a fifty-two week high of $114.15.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. Sell-side analysts anticipate that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Increases Dividend

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

About Brown & Brown

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.