Motley Fool Asset Management LLC decreased its position in Brown & Brown, Inc. (NYSE:BRO – Free Report) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 77,473 shares of the financial services provider’s stock after selling 10,190 shares during the period. Motley Fool Asset Management LLC’s holdings in Brown & Brown were worth $6,175,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Basepoint Wealth LLC purchased a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Brown & Brown in the second quarter valued at approximately $30,000. Board of the Pension Protection Fund purchased a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $40,000. Maseco LLP purchased a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $60,000. Finally, eCIO Inc. purchased a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $67,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on BRO. Mizuho lowered their price target on Brown & Brown from $85.00 to $84.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Citizens Jmp began coverage on Brown & Brown in a report on Thursday, May 21st. They issued a “market outperform” rating and a $70.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Brown & Brown from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. The Goldman Sachs Group lowered their price target on Brown & Brown from $82.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, April 8th. Finally, Bank of America lowered their price target on Brown & Brown from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Five investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $78.44.
Brown & Brown Stock Performance
Shares of NYSE:BRO opened at $59.05 on Wednesday. The company has a market capitalization of $20.01 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 2.67 and a beta of 0.63. Brown & Brown, Inc. has a 52 week low of $53.81 and a 52 week high of $111.10. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $61.40 and a 200 day moving average of $70.20.
Brown & Brown (NYSE:BRO – Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. Brown & Brown’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.29 earnings per share. On average, sell-side analysts predict that Brown & Brown, Inc. will post 4.51 earnings per share for the current fiscal year.
Brown & Brown Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were paid a $0.165 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. Brown & Brown’s payout ratio is 21.22%.
Insider Buying and Selling
In other Brown & Brown news, Director H Palmer Proctor, Jr. purchased 2,000 shares of Brown & Brown stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average cost of $57.10 per share, with a total value of $114,200.00. Following the completion of the transaction, the director owned 47,621 shares in the company, valued at approximately $2,719,159.10. This trade represents a 4.38% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.13% of the stock is owned by company insiders.
Brown & Brown Profile
Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.
Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.
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