Otter Creek Advisors LLC Trims Holdings in Brown & Brown, Inc. (NYSE:BRO)

Otter Creek Advisors LLC trimmed its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,995 shares of the financial services provider's stock after selling 6,218 shares during the period. Brown & Brown makes up approximately 2.3% of Otter Creek Advisors LLC's portfolio, making the stock its 26th biggest holding. Otter Creek Advisors LLC's holdings in Brown & Brown were worth $3,366,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mogy Joel R Investment Counsel Inc. increased its holdings in shares of Brown & Brown by 324.3% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider's stock worth $1,967,000 after buying an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC grew its position in Brown & Brown by 4.4% in the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider's stock worth $18,104,000 after acquiring an additional 6,805 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 acquiring an additional 17,934 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Brown & Brown in the 3rd quarter worth about $9,832,000. Finally, EULAV Asset Management boosted its holdings in shares of Brown & Brown by 144.8% in the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider's stock worth $43,960,000 after purchasing an additional 254,900 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Trading Up 1.8 %

Shares of NYSE BRO traded up $2.09 during trading hours on Friday, hitting $118.59. The company's stock had a trading volume of 2,260,902 shares, compared to its average volume of 1,587,246. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $118.80. The stock has a market cap of $33.91 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 2.93 and a beta of 0.86. 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 business has a 50-day simple moving average of $106.55 and a 200-day simple moving average of $106.04.

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

Brown & Brown Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Barclays boosted their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a report on Thursday, November 21st. Bank of America increased their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods lowered 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 note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price 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.