Brown & Brown, Inc. (NYSE:BRO) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in Brown & Brown, Inc. (NYSE:BRO) by 6.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 211,908 shares of the financial services provider’s stock after selling 14,892 shares during the quarter. New York State Teachers Retirement System owned 0.07% of Brown & Brown worth $21,619,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in BRO. Zurich Insurance Group Ltd FI grew its stake in Brown & Brown by 258.0% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after acquiring an additional 465,988 shares during the period. Barclays PLC boosted its stake in Brown & Brown by 17.8% during the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after purchasing an additional 371,980 shares during the last quarter. FMR LLC boosted its stake in Brown & Brown by 42.4% during the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after purchasing an additional 330,661 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Brown & Brown by 129.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider’s stock worth $56,670,000 after purchasing an additional 308,458 shares during the last quarter. Finally, EULAV Asset Management boosted its stake in Brown & Brown by 144.8% during the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock worth $43,960,000 after purchasing an additional 254,900 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Down 0.4 %

Shares of BRO opened at $110.50 on Monday. The firm has a market cap of $31.60 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $114.15. The company’s 50-day moving average price is $104.54 and its 200 day moving average price is $105.12. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56.

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 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, sell-side analysts forecast that Brown & Brown, Inc. will post 4.15 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Analysts Set New Price Targets

BRO has been the topic of several recent research reports. Barclays lifted their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods lowered their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada lifted their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Bank of America boosted 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. Finally, Morgan Stanley began coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $113.17.

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.