TimesSquare Capital Management LLC Lowers Position in Brown & Brown, Inc. (NYSE:BRO)

TimesSquare Capital Management LLC lessened its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 391,872 shares of the financial services provider's stock after selling 22,155 shares during the period. TimesSquare Capital Management LLC owned approximately 0.14% of Brown & Brown worth $39,979,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Brown & Brown by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock worth $1,316,259,000 after acquiring an additional 94,121 shares during the last quarter. Barclays PLC grew its position in Brown & Brown by 17.8% during 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 during the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 valued at $136,302,000 after purchasing an additional 17,934 shares in the last quarter. FMR LLC raised its holdings in Brown & Brown by 42.4% in the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider's stock worth $114,979,000 after buying an additional 330,661 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of Brown & Brown by 6.2% in the third quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider's stock worth $80,749,000 after buying an additional 45,766 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Performance

Shares of Brown & Brown stock traded down $1.30 on Thursday, hitting $111.01. 664,209 shares of the company's stock were exchanged, compared to its average volume of 1,556,760. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $114.15. The company has a 50-day simple moving average of $104.97 and a 200-day simple moving average of $105.31. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market capitalization of $31.74 billion, a PE ratio of 32.06, a PEG ratio of 2.91 and a beta of 0.86.

Brown & Brown (NYSE:BRO - Get Free Report) last released its 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%. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

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

Wall Street Analyst Weigh In

BRO has been the subject of several analyst reports. Royal Bank of Canada raised 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. StockNews.com lowered Brown & Brown from a "buy" rating to a "hold" rating in a report on Saturday, November 2nd. Wells Fargo & Company upped their price target on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods reduced their price objective on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a report on Friday, January 10th. Finally, Morgan Stanley initiated coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They set an "overweight" rating and a $134.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.