Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Atria Investments Inc

Atria Investments Inc lowered its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,819 shares of the financial services provider's stock after selling 2,221 shares during the period. Atria Investments Inc's holdings in Brown & Brown were worth $3,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BRO. Farther Finance Advisors LLC raised its holdings in Brown & Brown by 18.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,914 shares of the financial services provider's stock valued at $302,000 after buying an additional 455 shares during the period. Portside Wealth Group LLC raised its stake in shares of Brown & Brown by 5.4% in the 3rd quarter. Portside Wealth Group LLC now owns 7,843 shares of the financial services provider's stock valued at $813,000 after acquiring an additional 402 shares during the period. Leavell Investment Management Inc. lifted its holdings in shares of Brown & Brown by 0.7% in the 3rd quarter. Leavell Investment Management Inc. now owns 59,552 shares of the financial services provider's stock worth $6,170,000 after acquiring an additional 421 shares during the last quarter. Equitable Trust Co. boosted its position in shares of Brown & Brown by 2.5% during the 3rd quarter. Equitable Trust Co. now owns 11,505 shares of the financial services provider's stock worth $1,192,000 after purchasing an additional 282 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in shares of Brown & Brown during the 3rd quarter worth approximately $291,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

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Brown & Brown Stock Down 0.6 %

Shares of NYSE:BRO traded down $0.65 during trading hours on Wednesday, reaching $117.31. The stock had a trading volume of 1,683,040 shares, compared to its average volume of 1,276,752. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $121.25. The firm's 50 day moving average is $108.80 and its 200-day moving average is $106.89. The stock has a market capitalization of $33.54 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 2.93 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS 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%. Research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

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

Analyst Upgrades and Downgrades

BRO has been the topic of a number of research analyst reports. Barclays boosted their target price 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. Morgan Stanley initiated coverage on Brown & Brown in a report on Thursday, December 5th. They issued an "overweight" rating and a $134.00 price objective on the stock. Bank of America raised their target price on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.