Brown & Brown, Inc. $BRO Position Trimmed by Faithward Advisors LLC

Faithward Advisors LLC lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 86.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,093 shares of the financial services provider’s stock after selling 26,887 shares during the quarter. Faithward Advisors LLC’s holdings in Brown & Brown were worth $326,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BRO. Basepoint Wealth LLC purchased a new position in Brown & Brown during the 4th quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Brown & Brown during the 2nd quarter valued at about $30,000. Board of the Pension Protection Fund acquired a new stake in shares of Brown & Brown during the 4th quarter valued at about $40,000. Maseco LLP acquired a new stake in shares of Brown & Brown during the 4th quarter valued at about $60,000. Finally, eCIO Inc. acquired a new stake in shares of Brown & Brown during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insiders Place Their Bets

In related news, Director H Palmer Proctor, Jr. bought 2,000 shares of Brown & Brown stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average cost of $57.10 per share, for a total transaction of $114,200.00. Following the acquisition, the director owned 47,621 shares in the company, valued at $2,719,159.10. This trade represents a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 13.13% of the company’s stock.

Brown & Brown Stock Up 0.6%

BRO opened at $59.66 on Wednesday. The business has a 50 day moving average price of $60.85 and a 200 day moving average price of $69.49. Brown & Brown, Inc. has a twelve month low of $53.81 and a twelve month high of $111.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a market cap of $20.22 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 2.73 and a beta of 0.63.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company earned $1.29 EPS. The company’s revenue for the quarter was up 35.4% on a year-over-year basis. Research analysts forecast that Brown & Brown, Inc. will post 4.51 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, May 11th. Brown & Brown’s payout ratio is 21.22%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BRO. Royal Bank Of Canada reduced their price target on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating for the company in a report on Wednesday, April 29th. The Goldman Sachs Group reduced their price target on Brown & Brown from $82.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, April 8th. JPMorgan Chase & Co. reduced their price target on Brown & Brown from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Keefe, Bruyette & Woods reduced their price target on Brown & Brown from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. Finally, Barclays reduced their price target on Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $78.44.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.