AGF Management Ltd. Trims Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

AGF Management Ltd. reduced its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,546 shares of the financial services provider's stock after selling 6,564 shares during the period. AGF Management Ltd.'s holdings in Brown & Brown were worth $2,402,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Brown & Brown by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock valued at $1,316,259,000 after purchasing an additional 94,121 shares during the period. Barclays PLC increased its stake in Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock worth $255,537,000 after buying an additional 371,980 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Brown & Brown by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider's stock valued at $138,394,000 after acquiring an additional 40,881 shares during the period. FMR LLC lifted its position in shares of Brown & Brown by 42.4% in the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider's stock valued at $114,979,000 after acquiring an additional 330,661 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in shares of Brown & Brown by 11,337.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider's stock worth $1,109,000 after acquiring an additional 1,099,199 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Trading Up 0.5 %

Shares of NYSE BRO opened at $117.88 on Friday. Brown & Brown, Inc. has a 1-year low of $80.33 and a 1-year high of $121.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The business's 50 day moving average is $109.11 and its two-hundred day moving average is $106.96. The stock has a market capitalization of $33.71 billion, a P/E ratio of 34.07, a PEG ratio of 2.93 and a beta of 0.85.

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Brown & Brown (NYSE:BRO - Get Free Report) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating 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%. As a group, research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's dividend payout ratio is currently 17.34%.

Wall Street Analyst Weigh In

BRO has been the topic of a number of research analyst reports. Bank of America boosted their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Morgan Stanley assumed coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an "overweight" rating and a $134.00 target price on the stock. 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. Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a research note on Friday, January 10th. Finally, Barclays increased their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and an average price target of $113.17.

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.

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