CIBC Private Wealth Group LLC Sells 21,676 Shares of Brown & Brown, Inc. (NYSE:BRO)

CIBC Private Wealth Group LLC trimmed its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,391,002 shares of the financial services provider's stock after selling 21,676 shares during the period. CIBC Private Wealth Group LLC owned 0.49% of Brown & Brown worth $142,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BRO. Brooklyn Investment Group bought a new stake in shares of Brown & Brown during the 3rd quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Brown & Brown during the fourth quarter worth about $28,000. Y.D. More Investments Ltd increased its holdings in 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 buying an additional 162 shares during the period. R Squared Ltd acquired a new position in shares of Brown & Brown in the 4th quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Brown & Brown in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a report on Friday, January 10th. Royal Bank of Canada upped their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their target price on 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 upped their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $112.67.

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Brown & Brown Price Performance

Shares of BRO stock traded up $0.71 during trading hours on Thursday, reaching $124.94. The stock had a trading volume of 775,225 shares, compared to its average volume of 1,393,962. The stock's fifty day simple moving average is $114.46 and its 200 day simple moving average is $108.78. 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 market capitalization of $35.72 billion, a PE ratio of 36.11, a PEG ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 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, equities research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.48%. 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.