Motley Fool Wealth Management LLC Trims Holdings in Brown & Brown, Inc. (NYSE:BRO)

Motley Fool Wealth Management LLC reduced its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 277,605 shares of the financial services provider’s stock after selling 13,551 shares during the period. Brown & Brown makes up 1.5% of Motley Fool Wealth Management LLC’s investment portfolio, making the stock its 15th largest holding. Motley Fool Wealth Management LLC owned about 0.10% of Brown & Brown worth $28,367,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Citigroup Inc. increased its position in Brown & Brown by 1.6% in the 3rd quarter. Citigroup Inc. now owns 275,479 shares of the financial services provider’s stock valued at $28,540,000 after acquiring an additional 4,322 shares during the period. Cerity Partners LLC grew its stake in shares of Brown & Brown by 53.3% in the 3rd quarter. Cerity Partners LLC now owns 54,252 shares of the financial services provider’s stock valued at $5,620,000 after purchasing an additional 18,869 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Brown & Brown by 11.8% in the third quarter. Daiwa Securities Group Inc. now owns 29,394 shares of the financial services provider’s stock valued at $3,045,000 after purchasing an additional 3,101 shares during the period. Douglass Winthrop Advisors LLC purchased a new stake in shares of Brown & Brown during the third quarter worth approximately $218,000. Finally, DRW Securities LLC grew its position in Brown & Brown by 81.5% in the 3rd quarter. DRW Securities LLC now owns 6,677 shares of the financial services provider’s stock valued at $692,000 after buying an additional 2,999 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BRO has been the subject of several recent analyst reports. Royal Bank of Canada raised 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. Morgan Stanley restated an “equal weight” rating and issued a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday. Bank of America boosted their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reduced their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Finally, Wells Fargo & Company upped their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $112.67.

Brown & Brown Trading Up 0.4 %

Shares of BRO stock opened at $121.44 on Wednesday. The stock has a market cap of $34.72 billion, a P/E ratio of 35.10, a P/E/G ratio of 2.93 and a beta of 0.86. 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 fifty-two week low of $80.33 and a fifty-two week high of $121.85. The business has a fifty day simple moving average of $111.92 and a 200-day simple moving average of $107.82.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share 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, analysts forecast 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. Investors of record on Wednesday, February 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.49%. 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.