Independent Advisor Alliance Sells 6,065 Shares of Brown & Brown, Inc. (NYSE:BRO)

Independent Advisor Alliance reduced its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,606 shares of the financial services provider's stock after selling 6,065 shares during the period. Independent Advisor Alliance's holdings in Brown & Brown were worth $4,041,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BRO. Brooklyn Investment Group acquired a new position in Brown & Brown during the third quarter worth about $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown during the 3rd quarter valued at approximately $29,000. Y.D. More Investments Ltd increased its position in Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after purchasing an additional 162 shares in the last quarter. Finally, R Squared Ltd bought a new position in Brown & Brown in the 4th quarter valued at approximately $31,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Trading Down 1.5 %

NYSE:BRO opened at $117.84 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market cap of $33.70 billion, a P/E ratio of 34.06, a P/E/G ratio of 2.93 and a beta of 0.85. The firm's fifty day moving average is $108.48 and its 200-day moving average is $106.78. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $121.25.

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

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Wednesday, February 5th. Brown & Brown's dividend payout ratio (DPR) is 17.34%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BRO. Wells Fargo & Company upped their price target 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. Keefe, Bruyette & Woods lowered 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. Morgan Stanley began coverage on Brown & Brown in a research note on Thursday, December 5th. They set an "overweight" rating and a $134.00 price target on the stock. Barclays boosted their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada raised 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. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to 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.

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