Clarkston Capital Partners LLC Lowers Holdings in Brown & Brown, Inc. $BRO

Clarkston Capital Partners LLC decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 25.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 414,861 shares of the financial services provider’s stock after selling 139,199 shares during the quarter. Brown & Brown makes up about 2.1% of Clarkston Capital Partners LLC’s holdings, making the stock its 17th biggest holding. Clarkston Capital Partners LLC’s holdings in Brown & Brown were worth $27,053,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gibbs Wealth Management increased its position in shares of Brown & Brown by 18.9% during the 1st quarter. Gibbs Wealth Management now owns 4,804 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 763 shares during the last quarter. Cetera Investment Advisers lifted its position in Brown & Brown by 0.9% in the first quarter. Cetera Investment Advisers now owns 36,804 shares of the financial services provider’s stock valued at $2,400,000 after buying an additional 311 shares during the last quarter. Triad Investment Management boosted its stake in Brown & Brown by 31.0% during the first quarter. Triad Investment Management now owns 70,885 shares of the financial services provider’s stock worth $4,622,000 after buying an additional 16,763 shares during the period. PNC Financial Services Group Inc. boosted its stake in Brown & Brown by 3.2% during the first quarter. PNC Financial Services Group Inc. now owns 55,734 shares of the financial services provider’s stock worth $3,634,000 after buying an additional 1,741 shares during the period. Finally, Glenview Trust Co increased its position in shares of Brown & Brown by 9.2% during the first quarter. Glenview Trust Co now owns 9,682 shares of the financial services provider’s stock valued at $631,000 after acquiring an additional 816 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of BRO opened at $65.75 on Friday. The company has a market cap of $22.29 billion, a P/E ratio of 21.14, a PEG ratio of 3.02 and a beta of 0.60. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $104.25. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average price is $62.05 and its 200 day moving average price is $66.74.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 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 analysts’ expectations of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The firm’s revenue was up 35.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.29 EPS. On average, research analysts forecast that Brown & Brown, Inc. will post 4.5 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 12th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. Brown & Brown’s dividend payout ratio (DPR) is 21.22%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group restated a “neutral” rating and issued a $73.00 price objective (up from $65.00) on shares of Brown & Brown in a report on Wednesday, July 8th. Citigroup reissued an “outperform” rating on shares of Brown & Brown in a research report on Friday, July 10th. Citizens Jmp upped their price target on Brown & Brown from $70.00 to $78.00 and gave the stock a “market outperform” rating in a research note on Friday, July 10th. Wells Fargo & Company lowered their price target on Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday, July 9th. Finally, Mizuho lifted their price objective on Brown & Brown from $74.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $78.62.

Insider Transactions at Brown & Brown

In related news, Director H Palmer Proctor, Jr. bought 2,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average cost 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 $2,719,159.10. This trade represents a 4.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 13.13% of the company’s stock.

Brown & Brown Company 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.