New York State Common Retirement Fund Sells 19,900 Shares of Brown & Brown, Inc. (NYSE:BRO)

New York State Common Retirement Fund cut its stake in Brown & Brown, Inc. (NYSE:BRO) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289,522 shares of the financial services provider’s stock after selling 19,900 shares during the period. New York State Common Retirement Fund’s holdings in Brown & Brown were worth $29,537,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BRO. Zurich Insurance Group Ltd FI boosted its holdings in shares of Brown & Brown by 258.0% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock worth $66,985,000 after buying an additional 465,988 shares in the last quarter. Barclays PLC boosted its holdings in shares of 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 buying an additional 371,980 shares in the last quarter. FMR LLC boosted its holdings in shares of 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 buying an additional 330,661 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of 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 buying an additional 308,458 shares in the last quarter. Finally, EULAV Asset Management boosted its holdings in shares of 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 buying an additional 254,900 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BRO has been the topic of a number of research analyst reports. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Morgan Stanley initiated coverage on Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. Bank of America increased their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Royal Bank of Canada increased their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods lowered their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Trading Down 0.6 %

NYSE BRO opened at $111.69 on Friday. The firm has a market capitalization of $31.93 billion, a P/E ratio of 32.28, a PEG ratio of 2.91 and a beta of 0.86. The business has a fifty day simple moving average of $105.13 and a 200 day simple moving average of $105.35. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $114.15. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s payout ratio is currently 17.34%.

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.