Checchi Capital Advisers LLC Sells 1,064 Shares of Brown & Brown, Inc. (NYSE:BRO)

Checchi Capital Advisers LLC reduced its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 23.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,446 shares of the financial services provider’s stock after selling 1,064 shares during the period. Checchi Capital Advisers LLC’s holdings in Brown & Brown were worth $352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mogy Joel R Investment Counsel Inc. raised its position in shares of Brown & Brown by 324.3% during the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after acquiring an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC increased its position in Brown & Brown by 4.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock valued at $18,104,000 after purchasing an additional 6,805 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Brown & Brown by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock worth $136,302,000 after purchasing an additional 17,934 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Brown & Brown in the 3rd quarter worth approximately $9,832,000. Finally, EULAV Asset Management boosted its stake in shares of Brown & Brown by 144.8% in the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock valued at $43,960,000 after purchasing an additional 254,900 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Price Performance

Shares of BRO opened at $116.46 on Friday. The stock has a market cap of $33.30 billion, a P/E ratio of 33.66, a P/E/G ratio of 2.93 and a beta of 0.86. The business’s fifty day moving average is $105.95 and its 200 day moving average is $105.79. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $117.15.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 17.34%.

Analyst Ratings Changes

BRO has been the topic of a number of research analyst reports. Bank of America upped their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Wells Fargo & Company lifted their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Barclays boosted their price target on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, Morgan Stanley started coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Company 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.