Rhumbline Advisers Sells 9,711 Shares of Brown & Brown, Inc. (NYSE:BRO)

Rhumbline Advisers decreased its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 513,080 shares of the financial services provider's stock after selling 9,711 shares during the period. Rhumbline Advisers owned 0.18% of Brown & Brown worth $52,344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BRO. Brooklyn Investment Group bought a new position in shares of Brown & Brown in the 3rd quarter valued at about $26,000. ST Germain D J Co. Inc. grew its holdings in Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider's stock worth $28,000 after acquiring an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown during the 3rd quarter valued at $29,000. Y.D. More Investments Ltd lifted its stake in shares of Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 162 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Brown & Brown in the 4th quarter valued at $31,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Down 0.8 %

NYSE:BRO traded down $0.86 during trading hours on Thursday, reaching $111.45. 771,888 shares of the stock were exchanged, compared to its average volume of 1,558,919. The firm has a 50 day moving average of $104.97 and a 200 day moving average of $105.31. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $114.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market cap of $31.87 billion, a PE ratio of 32.20, a PEG ratio of 2.91 and a beta of 0.86.

Brown & Brown (NYSE:BRO - Get Free Report) last posted 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 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 year.

Brown & Brown Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on BRO. Truist Financial upped their price objective on Brown & Brown from $116.00 to $118.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Wells Fargo & Company increased 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. Barclays boosted their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. Royal Bank of Canada lifted 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. Finally, Bank of America upped their price objective 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. 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average 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.