Pine Valley Investments Ltd Liability Co Sells 250 Shares of Brown & Brown, Inc. (NYSE:BRO)

Pine Valley Investments Ltd Liability Co lowered its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,379 shares of the financial services provider’s stock after selling 250 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Brown & Brown were worth $454,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BRO. Brooklyn Investment Group bought a new stake in Brown & Brown in the 3rd quarter worth approximately $26,000. Crewe Advisors LLC lifted its holdings in shares of Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 228 shares during the last quarter. ST Germain D J Co. Inc. boosted its stake in shares of Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown during the 3rd quarter valued at $29,000. Finally, Blue Trust Inc. raised its position in Brown & Brown by 142.3% in the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 323 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on BRO. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Wells Fargo & Company raised their price target on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada lifted their price target on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley assumed coverage on Brown & Brown in a research note on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective for the company. Finally, Jefferies Financial Group lifted their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown has an average rating of “Moderate Buy” and an average price target of $109.46.

Brown & Brown Trading Up 0.5 %

Shares of BRO opened at $104.18 on Friday. Brown & Brown, Inc. has a 1-year low of $69.13 and a 1-year high of $114.15. The firm has a market capitalization of $29.79 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 2.40 and a beta of 0.84. The firm’s 50-day moving average price is $107.92 and its 200-day moving average price is $101.00. 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 posted its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 EPS. Sell-side analysts anticipate that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a $0.15 dividend. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.58%. Brown & Brown’s dividend payout ratio is 16.35%.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.