First National Advisers LLC Sells 3,385 Shares of Brown & Brown, Inc. (NYSE:BRO)

First National Advisers LLC cut its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,546 shares of the financial services provider's stock after selling 3,385 shares during the quarter. First National Advisers LLC's holdings in Brown & Brown were worth $3,320,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in shares of Brown & Brown by 0.4% in the 3rd quarter. Victory Capital Management Inc. now owns 253,895 shares of the financial services provider's stock valued at $26,304,000 after purchasing an additional 956 shares during the last quarter. Huntington National Bank grew its position in Brown & Brown by 26.7% during the third quarter. Huntington National Bank now owns 3,338 shares of the financial services provider's stock valued at $346,000 after acquiring an additional 703 shares during the period. KBC Group NV increased its stake in Brown & Brown by 30.0% during the third quarter. KBC Group NV now owns 41,228 shares of the financial services provider's stock worth $4,272,000 after acquiring an additional 9,507 shares during the last quarter. Curi RMB Capital LLC acquired a new stake in Brown & Brown during the third quarter worth about $317,000. Finally, Metis Global Partners LLC raised its holdings in shares of Brown & Brown by 6.9% in the 3rd quarter. Metis Global Partners LLC now owns 15,064 shares of the financial services provider's stock worth $1,561,000 after purchasing an additional 974 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of analysts recently issued reports on BRO shares. Barclays raised their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a research report on Friday, January 10th. Morgan Stanley started coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They issued an "overweight" rating and a $134.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Finally, Bank of America boosted their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report 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 stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $113.17.

Brown & Brown Stock Up 0.2 %

BRO stock traded up $0.28 during trading hours on Wednesday, hitting $119.47. The company's stock had a trading volume of 365,110 shares, compared to its average volume of 1,282,576. The stock has a 50 day moving average price of $110.53 and a two-hundred day moving average price of $107.41. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $121.25. The company has a market capitalization of $34.16 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.

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

Brown & Brown Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.50%. Brown & Brown's payout ratio is 17.34%.

Brown & Brown 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.