Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Greenleaf Trust

Greenleaf Trust lowered its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,741 shares of the financial services provider’s stock after selling 269 shares during the period. Greenleaf Trust’s holdings in Brown & Brown were worth $266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC increased its position in Brown & Brown by 37.8% during the third quarter. Global Retirement Partners LLC now owns 758 shares of the financial services provider’s stock worth $53,000 after buying an additional 208 shares during the period. HB Wealth Management LLC purchased a new stake in Brown & Brown in the 3rd quarter valued at $209,000. Oak Thistle LLC raised its position in Brown & Brown by 209.5% in the 3rd quarter. Oak Thistle LLC now owns 31,097 shares of the financial services provider’s stock valued at $2,172,000 after purchasing an additional 21,051 shares during the last quarter. Czech National Bank boosted its stake in Brown & Brown by 47.6% during the 3rd quarter. Czech National Bank now owns 41,142 shares of the financial services provider’s stock worth $2,873,000 after purchasing an additional 13,273 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in Brown & Brown by 3.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 97,918 shares of the financial services provider’s stock worth $6,839,000 after purchasing an additional 3,184 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $82.13 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.95 and a current ratio of 1.97. Brown & Brown, Inc. has a one year low of $60.00 and a one year high of $87.99. The firm has a market capitalization of $23.43 billion, a P/E ratio of 25.27, a PEG ratio of 2.49 and a beta of 0.78. The company’s fifty day moving average is $84.30 and its two-hundred day moving average is $76.99.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.07 by $0.07. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the business earned $0.84 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Analysts forecast that Brown & Brown, Inc. will post 3.57 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown’s dividend payout ratio (DPR) is 16.00%.

Insider Buying and Selling

In related news, Chairman Hyatt J. Brown sold 144,323 shares of Brown & Brown stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 17.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. Keefe, Bruyette & Woods increased their price objective on Brown & Brown from $75.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 10th. Raymond James lifted their target price on Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Jefferies Financial Group cut Brown & Brown from a “buy” rating to a “hold” rating and cut their price target for the stock from $85.00 to $78.00 in a research note on Tuesday, January 9th. Finally, UBS Group lifted their price objective on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Brown & Brown has an average rating of “Hold” and an average price target of $87.10.

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.