New York State Teachers Retirement System Sells 14,892 Shares of Brown & Brown, Inc. (NYSE:BRO)

New York State Teachers Retirement System lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 211,908 shares of the financial services provider's stock after selling 14,892 shares during the period. New York State Teachers Retirement System owned about 0.07% of Brown & Brown worth $21,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in shares of Brown & Brown by 0.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider's stock worth $405,638,000 after purchasing an additional 28,180 shares in the last quarter. Barclays PLC grew its position in shares of Brown & Brown by 17.8% during the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock worth $255,537,000 after purchasing an additional 371,980 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Brown & Brown by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider's stock worth $136,302,000 after purchasing an additional 17,934 shares in the last quarter. FMR LLC grew its position in shares of Brown & Brown by 42.4% during the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider's stock worth $114,979,000 after purchasing an additional 330,661 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in shares of Brown & Brown by 6.2% during the 3rd quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider's stock worth $80,749,000 after purchasing an additional 45,766 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BRO shares. Morgan Stanley started coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an "overweight" rating and a $134.00 price target on the stock. Wells Fargo & Company increased their price target 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. Barclays increased their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 21st. StockNews.com lowered shares of Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. Finally, Royal Bank of Canada increased their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $113.17.

Brown & Brown Price Performance

NYSE:BRO traded down $0.63 on Thursday, hitting $111.69. The company had a trading volume of 1,483,119 shares, compared to its average volume of 1,581,993. The stock has a market capitalization of $31.93 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 2.91 and a beta of 0.86. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $104.97 and a two-hundred day moving average of $105.31. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $114.15.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

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

Brown & Brown 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.