Brown & Brown, Inc. (NYSE:BRO) Shares Sold by WealthPLAN Partners LLC

WealthPLAN Partners LLC trimmed its position in Brown & Brown, Inc. (NYSE:BRO) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,337 shares of the financial services provider’s stock after selling 317 shares during the period. WealthPLAN Partners LLC’s holdings in Brown & Brown were worth $5,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Studio Investment Management LLC boosted its holdings in Brown & Brown by 1.5% in the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 96 shares during the last quarter. Journey Strategic Wealth LLC boosted its holdings in Brown & Brown by 2.3% in the fourth quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 99 shares during the last quarter. Trust Point Inc. boosted its holdings in Brown & Brown by 4.3% in the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 103 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in Brown & Brown by 3.7% in the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 103 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in Brown & Brown by 3.4% in the fourth quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 103 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods lowered their price target 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. Royal Bank of Canada upped their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Finally, Bank of America increased their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Trading Down 0.4 %

Shares of Brown & Brown stock opened at $110.50 on Friday. The firm has a market capitalization of $31.60 billion, a PE ratio of 31.94, a P/E/G ratio of 2.84 and a beta of 0.86. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $114.15. The firm’s 50-day moving average price is $104.54 and its 200 day moving average price is $105.05. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last issued 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%. On average, sell-side analysts predict that Brown & Brown, Inc. will post 4.15 EPS for the current fiscal year.

Brown & Brown Announces Dividend

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