Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its holdings in Brown & Brown, Inc. (NYSE:BRO) by 14.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 329,417 shares of the financial services provider’s stock after selling 53,470 shares during the period. Cresset Asset Management LLC’s holdings in Brown & Brown were worth $33,607,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new stake in Brown & Brown in the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. lifted its stake in shares of Brown & Brown by 534.1% during the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock worth $29,000 after buying an additional 235 shares during the period. Y.D. More Investments Ltd grew its holdings in shares of 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 last quarter. R Squared Ltd acquired a new position in shares of Brown & Brown in the 4th quarter valued at $31,000. Finally, SBI Securities Co. Ltd. purchased a new position in Brown & Brown in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BRO. Edward Jones initiated coverage on Brown & Brown in a research note on Wednesday, April 16th. They set a “buy” rating on the stock. Barclays raised their price target on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, April 11th. Royal Bank of Canada increased their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their target price on shares of Brown & Brown from $102.00 to $100.00 and set an “underperform” rating for the company in a research report on Monday. Finally, Jefferies Financial Group increased their price target on Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $116.67.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $110.39 on Tuesday. The firm has a market cap of $31.64 billion, a PE ratio of 31.90, a P/E/G ratio of 2.93 and a beta of 0.75. Brown & Brown, Inc. has a twelve month low of $83.60 and a twelve month high of $125.68. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $117.74 and a 200 day moving average price of $110.74.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Monday, May 12th. Brown & Brown’s dividend payout ratio is presently 16.71%.

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.