Independent Advisor Alliance Has $4.04 Million Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Independent Advisor Alliance lessened its position in Brown & Brown, Inc. (NYSE:BRO) by 13.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 39,606 shares of the financial services provider’s stock after selling 6,065 shares during the period. Independent Advisor Alliance’s holdings in Brown & Brown were worth $4,041,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Brown & Brown in the 3rd quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown during the fourth quarter worth $28,000. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown in the third quarter valued at $29,000. Y.D. More Investments Ltd grew its holdings in shares of Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after buying an additional 162 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of Brown & Brown during the fourth quarter worth about $31,000. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BRO shares. Barclays raised their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada raised their target price on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Bank of America upped their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Morgan Stanley began coverage on Brown & Brown in a research note on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. One investment 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. Based on data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and an average price target of $113.17.

Brown & Brown Price Performance

BRO opened at $117.84 on Wednesday. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $121.25. The firm has a 50-day moving average of $108.48 and a 200 day moving average of $106.78. 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 firm has a market cap of $33.70 billion, a P/E ratio of 34.06, a PEG ratio of 2.93 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 the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.51%. Brown & Brown’s payout ratio is presently 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.