Tidal Investments LLC Sells 14,991 Shares of Brown & Brown, Inc. (NYSE:BRO)

Tidal Investments LLC trimmed its holdings in Brown & Brown, Inc. (NYSE:BRO) by 5.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 244,214 shares of the financial services provider’s stock after selling 14,991 shares during the quarter. Tidal Investments LLC’s holdings in Brown & Brown were worth $24,915,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Brown & Brown in the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. raised its holdings in Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock valued at $29,000 after buying an additional 235 shares during the last quarter. Y.D. More Investments Ltd raised its holdings in Brown & Brown by 122.7% during the 4th 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 bought a new stake in Brown & Brown during the 4th quarter valued at $31,000. Finally, SBI Securities Co. Ltd. bought a new stake in Brown & Brown during the 4th quarter valued at $37,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Up 1.1%

NYSE:BRO opened at $111.75 on Friday. The firm’s 50-day moving average price is $116.27 and its 200-day moving average price is $111.04. The company has a market capitalization of $32.03 billion, a PE ratio of 32.30, a P/E/G ratio of 2.93 and a beta of 0.87. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a 1-year low of $85.97 and a 1-year high of $125.68.

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

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be given a dividend of $0.15 per share. 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BRO shares. Keefe, Bruyette & Woods lowered their price target on shares of Brown & Brown from $102.00 to $100.00 and set an “underperform” rating for the company in a report on Monday, May 5th. Wells Fargo & Company upped 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 target on shares of Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, April 9th. The Goldman Sachs Group lowered shares of Brown & Brown from a “buy” rating to a “neutral” rating and lowered their price target for the company from $126.00 to $119.00 in a report on Tuesday, May 13th. Finally, Bank of America boosted their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $116.85.

Brown & Brown Company 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.