Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Next Level Private LLC

Next Level Private LLC reduced its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,429 shares of the financial services provider’s stock after selling 1,085 shares during the period. Next Level Private LLC’s holdings in Brown & Brown were worth $554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in Brown & Brown by 0.7% during 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 purchasing an additional 28,180 shares during the last quarter. Barclays PLC increased its position in shares of Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after acquiring an additional 371,980 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Brown & Brown by 1.4% during 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. FMR LLC increased its position in shares of Brown & Brown by 42.4% during the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after acquiring an additional 330,661 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Brown & Brown by 6.2% during the third quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider’s stock valued at $80,749,000 after acquiring an additional 45,766 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Up 1.8 %

Shares of Brown & Brown stock opened at $107.93 on Tuesday. Brown & Brown, Inc. has a 52-week low of $75.79 and a 52-week high of $114.15. The company has a 50 day moving average of $105.72 and a 200 day moving average of $104.00. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $30.86 billion, a P/E ratio of 29.41, a P/E/G ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. As a group, research analysts forecast that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.56%. Brown & Brown’s dividend payout ratio is currently 16.35%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BRO shares. Keefe, Bruyette & Woods dropped 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 report on Friday, January 10th. Royal Bank of Canada lifted their price target 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. Jefferies Financial Group lifted their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. 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 report on Thursday, October 10th. Finally, Barclays lifted their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $112.08.

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.