Brown & Brown, Inc. $BRO Position Trimmed by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 171,782 shares of the financial services provider’s stock after selling 31,040 shares during the period. Brown & Brown comprises about 1.1% of Motley Fool Wealth Management LLC’s portfolio, making the stock its 26th largest holding. Motley Fool Wealth Management LLC’s holdings in Brown & Brown were worth $13,691,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BRO. AQR Capital Management LLC increased its stake in Brown & Brown by 38.3% during the first quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock valued at $4,132,000 after purchasing an additional 9,264 shares during the last quarter. Focus Partners Wealth increased its stake in Brown & Brown by 5.2% during the first quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock valued at $1,387,000 after purchasing an additional 547 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Brown & Brown by 1,824.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 53,103 shares of the financial services provider’s stock valued at $5,888,000 after purchasing an additional 50,344 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Brown & Brown by 27.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 223 shares during the last quarter. Finally, Cary Street Partners Financial LLC increased its stake in Brown & Brown by 60.9% during the second quarter. Cary Street Partners Financial LLC now owns 933 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 353 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

BRO has been the subject of several recent research reports. The Goldman Sachs Group lowered their target price on shares of Brown & Brown from $82.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, April 8th. Citigroup assumed coverage on shares of Brown & Brown in a report on Thursday, May 21st. They set a “market outperform” rating for the company. Royal Bank Of Canada reduced their price target on shares of Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating for the company in a report on Wednesday, April 29th. Citizens Jmp assumed coverage on shares of Brown & Brown in a report on Thursday, May 21st. They set a “market outperform” rating and a $70.00 price target for the company. Finally, Bank of America reduced their price target on shares of Brown & Brown from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and an average price target of $78.44.

Insiders Place Their Bets

In related news, Director H Palmer Proctor, Jr. acquired 2,000 shares of Brown & Brown stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average price of $57.10 per share, with a total value of $114,200.00. Following the completion of the acquisition, the director directly owned 47,621 shares of the company’s stock, valued at $2,719,159.10. This trade represents a 4.38% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.13% of the stock is owned by insiders.

Brown & Brown Stock Performance

Shares of BRO opened at $59.05 on Wednesday. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $111.10. The company has a market cap of $20.01 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 2.67 and a beta of 0.63. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a fifty day moving average of $61.40 and a 200-day moving average of $70.20.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The company’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 earnings per share. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 4.51 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were issued a $0.165 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.66 annualized dividend and a yield of 1.1%. Brown & Brown’s dividend payout ratio is presently 21.22%.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.