Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lowered its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in BRO. Brooklyn Investment Group acquired a new stake in shares of Brown & Brown in the third quarter worth $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Brown & Brown in the fourth quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new position in shares of Brown & Brown in the third quarter valued at $29,000. Y.D. More Investments Ltd boosted its stake in shares of Brown & Brown by 122.7% in the fourth 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 purchased a new position in shares of Brown & Brown in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Stock Performance

Shares of Brown & Brown stock traded down $0.99 during trading hours on Tuesday, reaching $119.09. The company's stock had a trading volume of 1,646,194 shares, compared to its average volume of 1,286,093. The company's 50 day simple moving average is $110.53 and its 200 day simple moving average is $107.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $121.25. The stock has a market cap of $34.05 billion, a P/E ratio of 34.42, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

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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 (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

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

Analyst Ratings Changes

BRO has been the subject of several analyst reports. Royal Bank of Canada upped their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their target price on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a research note on Friday, January 10th. Barclays upped their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a research note on Thursday, November 21st. Wells Fargo & Company upped their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Finally, Bank of America upped their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research note 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. According to MarketBeat, the stock presently has an average rating of "Hold" and an average 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.