Prudential Financial Inc. Trims Holdings in Brown & Brown, Inc. (NYSE:BRO)

Prudential Financial Inc. reduced its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 16.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,841 shares of the financial services provider's stock after selling 24,487 shares during the quarter. Prudential Financial Inc.'s holdings in Brown & Brown were worth $12,736,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of Brown & Brown in the third quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in Brown & Brown in the 4th quarter valued at $28,000. Y.D. More Investments Ltd increased its stake 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 worth $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd purchased a new stake in Brown & Brown in the fourth quarter worth $31,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Brown & Brown in the fourth quarter worth about $37,000. Institutional investors own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price target 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 raised their price target on Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Morgan Stanley reiterated an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Keefe, Bruyette & Woods reduced their price target on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a report on Friday, January 10th. Finally, Bank of America increased their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Brown & Brown currently has an average rating of "Hold" and an average target price of $112.67.

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Brown & Brown Stock Down 0.2 %

BRO stock traded down $0.31 on Tuesday, hitting $124.09. 2,289,615 shares of the company's stock were exchanged, compared to its average volume of 1,392,999. The firm has a 50 day moving average price of $113.71 and a two-hundred day moving average price of $108.52. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $125.68. The stock has a market cap of $35.48 billion, a P/E ratio of 35.86, a price-to-earnings-growth 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.

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 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%. As a group, equities research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.48%. Brown & Brown's dividend payout ratio is currently 17.34%.

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.