TimesSquare Capital Management LLC Has $42.89 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

TimesSquare Capital Management LLC lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 414,027 shares of the financial services provider's stock after selling 5,165 shares during the period. TimesSquare Capital Management LLC owned 0.14% of Brown & Brown worth $42,893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. ST Germain D J Co. Inc. boosted its holdings in Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Crewe Advisors LLC raised its stake in shares of Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider's stock worth $27,000 after purchasing an additional 228 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Brown & Brown in the 1st quarter valued at approximately $32,000. Larson Financial Group LLC grew its stake in shares of Brown & Brown by 65.7% in the second quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider's stock valued at $48,000 after buying an additional 211 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Brown & Brown by 142.3% during the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider's stock worth $48,000 after acquiring an additional 323 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Raymond James boosted their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their price objective on Brown & Brown from $113.00 to $118.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their target price on Brown & Brown from $86.00 to $92.00 and gave the stock an "underperform" rating in a research note on Friday, July 26th. StockNews.com cut Brown & Brown from a "buy" rating to a "hold" rating in a research note on Saturday, November 2nd. Finally, Jefferies Financial Group raised their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $106.50.

Insider Activity

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the business's stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 17.02% of the company's stock.

Brown & Brown Price Performance

Shares of NYSE BRO traded up $2.08 during mid-day trading on Friday, reaching $112.43. The company had a trading volume of 1,210,905 shares, compared to its average volume of 1,495,600. The firm has a market cap of $32.15 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 2.59 and a beta of 0.82. The business's 50-day simple moving average is $104.75 and its 200 day simple moving average is $97.06. Brown & Brown, Inc. has a one year low of $69.13 and a one year 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.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 EPS. On average, research analysts predict that Brown & Brown, Inc. will post 3.73 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Wednesday, November 6th. This is an increase from Brown & Brown's previous quarterly dividend of $0.13. Brown & Brown's dividend payout ratio (DPR) is currently 16.35%.

Brown & Brown 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.