Marks Group Wealth Management Inc Has $9.34 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Marks Group Wealth Management Inc cut its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,502 shares of the financial services provider's stock after selling 3,890 shares during the quarter. Brown & Brown accounts for 0.9% of Marks Group Wealth Management Inc's investment portfolio, making the stock its 28th largest position. Marks Group Wealth Management Inc's holdings in Brown & Brown were worth $9,335,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Brown & Brown by 228.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,801 shares of the financial services provider's stock valued at $187,000 after purchasing an additional 1,253 shares in the last quarter. Koshinski Asset Management Inc. grew its position in shares of Brown & Brown by 125.2% in the 3rd quarter. Koshinski Asset Management Inc. now owns 9,614 shares of the financial services provider's stock valued at $996,000 after buying an additional 5,344 shares during the last quarter. Creative Planning grew its position in shares of Brown & Brown by 0.4% in the 3rd 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 last quarter. Hutchens & Kramer Investment Management Group LLC purchased a new position in shares of Brown & Brown in the 3rd quarter valued at $205,000. Finally, nVerses Capital LLC grew its position in shares of Brown & Brown by 62.0% in the 3rd quarter. nVerses Capital LLC now owns 11,500 shares of the financial services provider's stock valued at $1,191,000 after buying an additional 4,400 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of research analysts recently commented on BRO shares. Keefe, Bruyette & Woods dropped their target price on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada raised their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Bank of America raised their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Finally, StockNews.com downgraded shares of Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. 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 company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $113.17.

Brown & Brown Stock Down 0.4 %

BRO traded down $0.43 during trading on Friday, hitting $110.50. The company had a trading volume of 1,454,035 shares, compared to its average volume of 1,600,857. The business has a 50-day moving average of $104.54 and a 200-day moving average of $105.05. The company has a market cap of $31.60 billion, a PE ratio of 31.94, a P/E/G ratio of 2.84 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.73. Brown & Brown, Inc. has a 1-year low of $80.33 and a 1-year high of $114.15.

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 analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, analysts forecast that Brown & Brown, Inc. will post 4.15 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's dividend payout ratio (DPR) is 17.34%.

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.