Keybank National Association OH Has $2.03 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Keybank National Association OH decreased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,920 shares of the financial services provider’s stock after selling 959 shares during the period. Keybank National Association OH’s holdings in Brown & Brown were worth $2,032,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BRO. Mogy Joel R Investment Counsel Inc. grew its stake 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 valued at $1,967,000 after purchasing an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC boosted its position in 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 last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Brown & Brown by 1.4% in the 3rd 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 buying an additional 17,934 shares during the period. Quantbot Technologies LP bought a new stake in shares of Brown & Brown during the third quarter worth $9,832,000. Finally, EULAV Asset Management lifted its stake in shares of Brown & Brown by 144.8% during the fourth quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock valued at $43,960,000 after acquiring an additional 254,900 shares during the period. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Morgan Stanley assumed coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada increased their price target on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Bank of America lifted their price objective on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Stock Performance

Shares of BRO stock opened at $118.53 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $120.61. The company’s 50 day moving average price is $107.52 and its two-hundred day moving average price is $106.42. The company has a market capitalization of $33.89 billion, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

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%. On average, analysts expect 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 was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.51%. Brown & Brown’s dividend payout ratio is currently 17.34%.

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.