California Public Employees Retirement System Has $112.53 Million Stock Position in Brown & Brown, Inc. (NYSE:BRO)

California Public Employees Retirement System lessened its stake in Brown & Brown, Inc. (NYSE:BRO) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,102,970 shares of the financial services provider’s stock after selling 6,908 shares during the quarter. California Public Employees Retirement System owned about 0.39% of Brown & Brown worth $112,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Mogy Joel R Investment Counsel Inc. raised its position in 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 purchasing an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Brown & Brown by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock valued at $18,104,000 after buying an additional 6,805 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Brown & Brown by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock worth $138,394,000 after acquiring an additional 40,881 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Brown & Brown by 19.9% during the fourth quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock valued at $31,055,000 after acquiring an additional 50,510 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in Brown & Brown by 47.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 168,838 shares of the financial services provider’s stock valued at $17,225,000 after acquiring an additional 54,246 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BRO. Royal Bank of Canada upped their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Bank of America raised 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. Keefe, Bruyette & Woods dropped their target price 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. Wells Fargo & Company raised their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average target price of $112.67.

Brown & Brown Price Performance

NYSE BRO opened at $124.53 on Tuesday. 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 stock has a market cap of $35.61 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 2.93 and a beta of 0.86. The business has a 50 day simple moving average of $113.71 and a 200 day simple moving average of $108.52. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $124.97.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend 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.