Brown & Brown, Inc. (NYSE:BRO) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lessened its position in Brown & Brown, Inc. (NYSE:BRO) by 17.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,166 shares of the financial services provider’s stock after selling 41,870 shares during the period. D. E. Shaw & Co. Inc. owned about 0.07% of Brown & Brown worth $19,911,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BRO. Mogy Joel R Investment Counsel Inc. grew its stake in Brown & Brown by 324.3% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after acquiring an additional 14,740 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Brown & Brown by 395.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider’s stock valued at $3,489,000 after purchasing an additional 27,297 shares during the last quarter. National Bank of Canada FI lifted its position in Brown & Brown by 56.8% during the fourth quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider’s stock worth $19,365,000 after buying an additional 68,745 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Brown & Brown by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock worth $138,394,000 after buying an additional 40,881 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Brown & Brown by 19.9% in the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock valued at $31,055,000 after buying an additional 50,510 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Down 0.1%

Shares of NYSE BRO opened at $111.42 on Monday. The stock has a fifty day moving average price of $117.15 and a 200 day moving average price of $110.90. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12-month low of $85.97 and a 12-month high of $125.68. The company has a market cap of $31.93 billion, a P/E ratio of 32.20, a P/E/G ratio of 2.93 and a beta of 0.87.

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

Brown & Brown Announces Dividend

The company 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 $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.54%. The ex-dividend date is Monday, May 12th. Brown & Brown’s dividend payout ratio (DPR) is 16.71%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BRO. Morgan Stanley reiterated an “equal weight” rating and set a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. Royal Bank of Canada increased their price target 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. Wells Fargo & Company lifted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. UBS Group upped their price objective on Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 9th. Finally, Jefferies Financial Group lifted their target price on Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $116.67.

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.