Congress Wealth Management LLC DE Decreases Holdings in Brown & Brown, Inc. (NYSE:BRO)

Congress Wealth Management LLC DE lowered its position in Brown & Brown, Inc. (NYSE:BRO) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,783 shares of the financial services provider’s stock after selling 2,225 shares during the period. Congress Wealth Management LLC DE’s holdings in Brown & Brown were worth $14,465,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Brown & Brown during the 3rd quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Brown & Brown in the fourth quarter worth approximately $28,000. Y.D. More Investments Ltd boosted its holdings in shares of Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after buying an additional 162 shares during the last quarter. R Squared Ltd bought a new stake in Brown & Brown during the fourth quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Brown & Brown during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 2.1 %

Shares of BRO stock opened at $121.02 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $34.60 billion, a price-to-earnings ratio of 34.98, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $121.30. The stock’s 50-day moving average price is $111.92 and its 200-day moving average price is $107.82.

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, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Equities research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.50%. Brown & Brown’s payout ratio is currently 17.34%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BRO shares. Wells Fargo & Company boosted their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada upped their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Morgan Stanley assumed coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Finally, Bank of America lifted their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $113.17.

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.