Tandem Investment Advisors Inc. Sells 106,674 Shares of Brown & Brown, Inc. $BRO

Tandem Investment Advisors Inc. decreased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 8.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,185,144 shares of the financial services provider’s stock after selling 106,674 shares during the quarter. Brown & Brown makes up approximately 3.8% of Tandem Investment Advisors Inc.’s holdings, making the stock its 10th largest holding. Tandem Investment Advisors Inc.’s holdings in Brown & Brown were worth $77,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Triad Investment Management acquired a new position in shares of Brown & Brown in the 4th quarter valued at $4,314,000. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Brown & Brown during the 4th quarter worth $46,226,000. Vest Financial LLC increased its holdings in shares of Brown & Brown by 3.7% during the 4th quarter. Vest Financial LLC now owns 552,994 shares of the financial services provider’s stock worth $44,074,000 after buying an additional 19,503 shares during the last quarter. Barr E S & Co. raised its position in shares of Brown & Brown by 19.0% in the 4th quarter. Barr E S & Co. now owns 362,669 shares of the financial services provider’s stock worth $28,905,000 after buying an additional 57,971 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Brown & Brown by 2.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,802,327 shares of the financial services provider’s stock valued at $217,517,000 after acquiring an additional 57,274 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Brown & Brown stock opened at $69.29 on Friday. The firm has a market capitalization of $23.49 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 3.20 and a beta of 0.60. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $104.97. The stock’s 50 day moving average price is $61.14 and its 200 day moving average price is $67.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $1.29 earnings per share. As a group, sell-side analysts expect that Brown & Brown, Inc. will post 4.5 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, May 11th. Brown & Brown’s dividend payout ratio (DPR) is presently 21.22%.

Analyst Upgrades and Downgrades

BRO has been the subject of several research analyst reports. Citigroup restated an “outperform” rating on shares of Brown & Brown in a research note on Friday, July 10th. Weiss Ratings lowered Brown & Brown from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. Wells Fargo & Company decreased their target price on Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating for the company in a report on Thursday, July 9th. Royal Bank Of Canada dropped their target price on shares of Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 29th. Finally, Raymond James Financial restated an “outperform” rating on shares of Brown & Brown in a report on Friday, June 26th. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $78.62.

Insiders Place Their Bets

In other news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were purchased at an average price of $57.10 per share, with a total value of $114,200.00. Following the purchase, the director directly owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. This represents a 4.38% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 13.13% of the company’s stock.

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.