First Eagle Investment Management LLC lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 38.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,914,285 shares of the financial services provider's stock after selling 1,190,563 shares during the period. First Eagle Investment Management LLC owned approximately 0.67% of Brown & Brown worth $195,295,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Brown & Brown in the third quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Brown & Brown in the fourth quarter valued at $28,000. Ashton Thomas Securities LLC acquired a new stake in Brown & Brown in the third quarter valued at $29,000. Y.D. More Investments Ltd grew its holdings in 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 last quarter. Finally, R Squared Ltd acquired a new stake in Brown & Brown in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 71.01% of the company's stock.
Analyst Ratings Changes
Several analysts have weighed in on BRO shares. Keefe, Bruyette & Woods lowered their target price on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a report on Friday, January 10th. 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. Morgan Stanley assumed coverage on Brown & Brown in a report on Thursday, December 5th. They issued an "overweight" rating and a $134.00 target price on the stock. Barclays lifted their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company lifted their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $113.17.
Read Our Latest Stock Analysis on Brown & Brown
Brown & Brown Trading Down 0.8 %
NYSE:BRO traded down $0.99 during mid-day trading on Tuesday, reaching $119.09. The company's stock had a trading volume of 1,646,194 shares, compared to its average volume of 1,285,986. The company's fifty day simple moving average is $109.79 and its two-hundred day simple moving average is $107.20. 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 twelve month low of $80.33 and a twelve month high of $121.25. The stock has a market cap of $34.05 billion, a P/E ratio of 34.42, a P/E/G ratio of 2.93 and a beta of 0.86.
Brown & Brown (NYSE:BRO - Get Free Report) last issued 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 return on equity of 17.81% and a net margin of 20.68%. On average, equities analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.
Brown & Brown Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, February 5th. Brown & Brown's dividend payout ratio is currently 17.34%.
About Brown & Brown
(
Free Report)
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.
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