Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Brighton Jones LLC

Brighton Jones LLC reduced its position in Brown & Brown, Inc. (NYSE:BRO) by 4.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,090 shares of the financial services provider’s stock after selling 521 shares during the period. Brighton Jones LLC’s holdings in Brown & Brown were worth $1,029,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Mutual Advisors LLC raised its position in shares of Brown & Brown by 13.1% during the 4th quarter. Mutual Advisors LLC now owns 3,517 shares of the financial services provider’s stock valued at $373,000 after acquiring an additional 407 shares in the last quarter. Phillips Wealth Planners LLC increased its stake in Brown & Brown by 9.2% during the fourth quarter. Phillips Wealth Planners LLC now owns 2,571 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 217 shares during the last quarter. Advisory Alpha LLC lifted its position in shares of Brown & Brown by 36.1% in the 4th quarter. Advisory Alpha LLC now owns 2,973 shares of the financial services provider’s stock worth $303,000 after buying an additional 788 shares during the last quarter. Genesis Private Wealth LLC bought a new position in shares of Brown & Brown in the 4th quarter worth about $219,000. Finally, Mogy Joel R Investment Counsel Inc. boosted its holdings in shares of Brown & Brown by 324.3% in the 4th 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 buying an additional 14,740 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BRO shares. Keefe, Bruyette & Woods cut their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Barclays increased their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Jefferies Financial Group boosted their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley initiated 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $112.08.

Brown & Brown Stock Up 0.7 %

BRO stock opened at $106.01 on Friday. The firm’s 50-day moving average is $105.75 and its two-hundred day moving average is $103.80. The company has a market capitalization of $30.31 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. Brown & Brown, Inc. has a 52 week low of $75.79 and a 52 week high of $114.15. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.71 earnings per share. On average, analysts forecast that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.57%. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

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.