BCM Advisors LLC Reduces Stock Position in Brown & Brown, Inc. (NYSE:BRO)

BCM Advisors LLC decreased its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 17.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,527 shares of the financial services provider's stock after selling 19,413 shares during the quarter. Brown & Brown makes up approximately 2.2% of BCM Advisors LLC's holdings, making the stock its 8th largest holding. BCM Advisors LLC's holdings in Brown & Brown were worth $9,441,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in BRO. Oregon Public Employees Retirement Fund raised its position in shares of Brown & Brown by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider's stock valued at $1,819,000 after acquiring an additional 100 shares during the last quarter. Trust Point Inc. increased its holdings in Brown & Brown by 4.3% in the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider's stock valued at $261,000 after purchasing an additional 103 shares during the last quarter. Creative Planning lifted its stake in Brown & Brown by 0.4% in the third quarter. Creative Planning now owns 29,892 shares of the financial services provider's stock valued at $3,097,000 after buying an additional 112 shares during the period. Crossmark Global Holdings Inc. lifted its stake in Brown & Brown by 0.5% in the third quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider's stock valued at $2,375,000 after buying an additional 113 shares during the period. Finally, Anchor Investment Management LLC boosted its holdings in Brown & Brown by 4.0% during the second quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider's stock worth $294,000 after buying an additional 125 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Down 1.5 %

NYSE BRO traded down $1.71 during trading on Thursday, hitting $110.20. The stock had a trading volume of 161,886 shares, compared to its average volume of 1,314,150. Brown & Brown, Inc. has a 12 month low of $69.13 and a 12 month high of $114.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The company's 50-day moving average price is $105.16 and its two-hundred day moving average price is $97.59. The company has a market capitalization of $31.51 billion, a PE ratio of 30.25, a P/E/G ratio of 2.59 and a beta of 0.82.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. As a group, sell-side analysts forecast that Brown & Brown, Inc. will post 3.73 EPS for the current year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a $0.15 dividend. This is a boost from Brown & Brown's previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown's dividend payout ratio (DPR) is presently 16.35%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays assumed coverage on shares of Brown & Brown in a research report on Wednesday, September 4th. They issued an "equal weight" rating and a $108.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $113.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price target on shares of Brown & Brown from $86.00 to $92.00 and gave the company an "underperform" rating in a report on Friday, July 26th. Jefferies Financial Group raised their price objective on Brown & Brown from $98.00 to $104.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Finally, Bank of America boosted their target price on Brown & Brown from $108.00 to $117.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $106.50.

Insider Activity at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 17.02% of the stock is owned by company insiders.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.