Brown & Brown, Inc. (NYSE:BRO) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 391,872 shares of the financial services provider’s stock after selling 22,155 shares during the period. TimesSquare Capital Management LLC owned approximately 0.14% of Brown & Brown worth $39,979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Brown & Brown during the 3rd quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in Brown & Brown during the third quarter worth $29,000. Y.D. More Investments Ltd boosted its holdings in Brown & Brown by 122.7% during 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 in the last quarter. R Squared Ltd purchased a new stake in Brown & Brown during the fourth quarter worth $31,000. Finally, Versant Capital Management Inc boosted its holdings in Brown & Brown by 130.7% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after buying an additional 234 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BRO shares. Royal Bank of Canada increased their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Bank of America increased their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Morgan Stanley started coverage on shares of Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Barclays increased their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $111.43 on Wednesday. The firm has a 50-day simple moving average of $104.64 and a 200-day simple moving average of $105.19. The stock has a market capitalization of $31.86 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 2.90 and a beta of 0.86. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $114.15.

Brown & Brown (NYSE:BRO) last issued its 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 net margin of 20.68% and a return on equity of 17.81%. On average, equities analysts predict that Brown & Brown, Inc. will post 4.17 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

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

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.