Wells Fargo & Company MN Has $330.04 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Wells Fargo & Company MN decreased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,235,045 shares of the financial services provider’s stock after selling 40,224 shares during the period. Wells Fargo & Company MN owned 1.13% of Brown & Brown worth $330,039,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BRO. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Brown & Brown during the fourth quarter valued at approximately $28,000. Y.D. More Investments Ltd boosted its position in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after buying an additional 162 shares during the last quarter. R Squared Ltd bought a new position in Brown & Brown in the 4th quarter valued at $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Brown & Brown during the fourth quarter worth $37,000. Finally, Versant Capital Management Inc lifted its stake in shares of Brown & Brown by 130.7% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 234 shares during the period. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Down 7.6 %

NYSE:BRO opened at $115.01 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The business’s 50-day simple moving average is $115.03 and its 200-day simple moving average is $108.97. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $125.68. The stock has a market capitalization of $32.89 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

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

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is 17.34%.

Wall Street Analyst Weigh In

BRO has been the subject of several recent research reports. Morgan Stanley reissued an “equal weight” rating and set a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. Bank of America increased their price objective 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. Wells Fargo & Company raised their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods dropped their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Finally, Royal Bank of Canada raised 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $112.67.

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.