Diamond Hill Capital Management Inc. Has $13.04 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Diamond Hill Capital Management Inc. cut its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,846 shares of the financial services provider's stock after selling 11,755 shares during the period. Diamond Hill Capital Management Inc.'s holdings in Brown & Brown were worth $13,043,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BRO. Mogy Joel R Investment Counsel Inc. lifted its position in shares of Brown & Brown by 324.3% during the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider's stock valued at $1,967,000 after acquiring an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Brown & Brown by 4.4% during the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider's stock valued at $18,104,000 after purchasing an additional 6,805 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Brown & Brown by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider's stock valued at $138,394,000 after purchasing an additional 40,881 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Brown & Brown by 19.9% during the fourth quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider's stock valued at $31,055,000 after purchasing an additional 50,510 shares during the last quarter. Finally, Silphium Asset Management Ltd lifted its holdings in shares of Brown & Brown by 27.5% during the fourth quarter. Silphium Asset Management Ltd now owns 48,776 shares of the financial services provider's stock valued at $4,976,000 after purchasing an additional 10,530 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

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Brown & Brown Stock Up 0.6 %

Brown & Brown stock traded up $0.74 during mid-day trading on Wednesday, hitting $119.93. The company's stock had a trading volume of 1,446,050 shares, compared to its average volume of 1,286,729. The firm's 50 day moving average is $110.53 and its 200 day moving average is $107.41. The company has a market cap of $34.29 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 2.93 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 1.79. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $121.25.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping 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%. On average, analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.50%. The ex-dividend date was Wednesday, February 5th. Brown & Brown's payout ratio is currently 17.34%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BRO. Keefe, Bruyette & Woods reduced their target price on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a report on Friday, January 10th. Barclays upped their target price on Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. Morgan Stanley began coverage on Brown & Brown in a report on Thursday, December 5th. They set an "overweight" rating and a $134.00 target price for the company. Bank of America upped their target price on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada upped their target price on Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average 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.