Bank of New York Mellon Corp Lowers Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Bank of New York Mellon Corp lessened its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,377,004 shares of the financial services provider's stock after selling 12,625 shares during the quarter. Bank of New York Mellon Corp owned 0.48% of Brown & Brown worth $140,482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BRO. Zurich Insurance Group Ltd FI boosted its holdings in Brown & Brown by 258.0% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider's stock valued at $66,985,000 after purchasing an additional 465,988 shares in the last quarter. Barclays PLC boosted its holdings 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 valued at $255,537,000 after purchasing an additional 371,980 shares in the last quarter. FMR LLC boosted its holdings in Brown & Brown by 42.4% in the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider's stock valued at $114,979,000 after purchasing an additional 330,661 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Brown & Brown by 129.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider's stock valued at $56,670,000 after acquiring an additional 308,458 shares during the period. Finally, EULAV Asset Management lifted its position in shares of Brown & Brown by 144.8% during the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider's stock valued at $43,960,000 after acquiring an additional 254,900 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Price Performance

Shares of Brown & Brown stock traded up $1.43 during trading on Monday, hitting $119.97. 2,204,305 shares of the company were exchanged, compared to its average volume of 1,602,700. 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 fifty-two week low of $80.33 and a fifty-two week high of $120.39. The stock has a market capitalization of $34.30 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 2.93 and a beta of 0.86. The firm has a 50 day moving average price of $106.55 and a 200 day moving average price of $106.07.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly 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%. On average, equities analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.50%. Brown & Brown's dividend payout ratio (DPR) is presently 17.34%.

Analyst Ratings Changes

BRO has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their price target on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a research report on Friday, January 10th. Bank of America lifted their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Wells Fargo & Company lifted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Finally, Barclays lifted their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus 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.