Hantz Financial Services Inc. Trims Stake in Brown & Brown, Inc. (NYSE:BRO)

Hantz Financial Services Inc. lowered its position in Brown & Brown, Inc. (NYSE:BRO) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,226 shares of the financial services provider’s stock after selling 631 shares during the quarter. Hantz Financial Services Inc.’s holdings in Brown & Brown were worth $11,109,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its holdings in shares of Brown & Brown by 9.4% in the 1st quarter. Tidal Investments LLC now owns 21,259 shares of the financial services provider’s stock valued at $1,861,000 after buying an additional 1,828 shares in the last quarter. Comerica Bank grew its stake in Brown & Brown by 1.5% in the 1st quarter. Comerica Bank now owns 126,007 shares of the financial services provider’s stock valued at $11,031,000 after acquiring an additional 1,824 shares during the period. Virtu Financial LLC acquired a new stake in Brown & Brown in the 1st quarter valued at $672,000. Atria Investments Inc grew its stake in Brown & Brown by 19.0% in the 1st quarter. Atria Investments Inc now owns 23,701 shares of the financial services provider’s stock valued at $2,075,000 after acquiring an additional 3,780 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in Brown & Brown by 12.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock worth $21,855,000 after purchasing an additional 27,879 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Down 0.2 %

NYSE:BRO opened at $113.20 on Friday. Brown & Brown, Inc. has a 12-month low of $69.13 and a 12-month high of $114.15. The firm has a market capitalization of $32.37 billion, a P/E ratio of 30.84, a P/E/G ratio of 2.60 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The business has a 50 day simple moving average of $106.96 and a 200 day simple moving average of $99.58.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 EPS. Equities research analysts predict that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a $0.15 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.53%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is 16.35%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America lifted their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Argus initiated coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target on the stock. Finally, Jefferies Financial Group upped their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. One 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 data from MarketBeat, Brown & Brown currently has an average rating of “Hold” and a consensus target price of $107.42.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.