Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 16.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 76,537 shares of the financial services provider's stock after selling 15,453 shares during the period. Nisa Investment Advisors LLC's holdings in Brown & Brown were worth $7,808,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BRO. Allspring Global Investments Holdings LLC raised its position in shares of Brown & Brown by 0.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider's stock worth $405,638,000 after acquiring an additional 28,180 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Brown & Brown by 24.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider's stock worth $311,979,000 after purchasing an additional 687,783 shares during the period. Barclays PLC boosted its position in Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock worth $255,537,000 after purchasing an additional 371,980 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Brown & Brown by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider's stock valued at $136,302,000 after purchasing an additional 17,934 shares during the period. Finally, FMR LLC increased its position in shares of Brown & Brown by 42.4% in the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider's stock valued at $114,979,000 after buying an additional 330,661 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Royal Bank of Canada lifted their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. Jefferies Financial Group boosted their price objective on Brown & Brown from $98.00 to $104.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Finally, Barclays raised their target price on Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $112.08.

Brown & Brown Trading Up 0.7 %

Brown & Brown stock traded up $0.78 during midday trading on Friday, hitting $106.01. 1,480,167 shares of the stock were exchanged, compared to its average volume of 1,201,046. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The stock's 50-day simple moving average is $105.75 and its 200 day simple moving average is $103.70. Brown & Brown, Inc. has a fifty-two week low of $75.79 and a fifty-two week high of $114.15. The stock has a market capitalization of $30.31 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business's revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS. On average, equities analysts anticipate that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, February 5th. Brown & Brown's dividend payout ratio is presently 16.35%.

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.