Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC cut its holdings in Brown & Brown, Inc. (NYSE:BRO) by 3.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 46,247 shares of the financial services provider’s stock after selling 1,880 shares during the period. Great Lakes Advisors LLC’s holdings in Brown & Brown were worth $4,718,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in Brown & Brown in the 3rd quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Brown & Brown in the fourth quarter worth $28,000. Ashton Thomas Securities LLC acquired a new position in shares of Brown & Brown during the third quarter valued at $29,000. Y.D. More Investments Ltd raised its stake 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 purchasing an additional 162 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Brown & Brown in the fourth quarter worth about $31,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Up 0.5 %

Shares of NYSE BRO opened at $117.88 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $121.25. The company has a market cap of $33.71 billion, a price-to-earnings ratio of 34.07, a P/E/G ratio of 2.93 and a beta of 0.85. The business has a fifty day simple moving average of $109.11 and a 200-day simple moving average of $106.96.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.51%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BRO shares. Royal Bank of Canada raised their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Morgan Stanley began coverage on Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 target price on the stock. Wells Fargo & Company increased their price target on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Barclays lifted their price target on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods cut their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $113.17.

About Brown & Brown

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.