Axxcess Wealth Management LLC Sells 119 Shares of Brown & Brown, Inc. (NYSE:BRO)

Axxcess Wealth Management LLC cut its position in Brown & Brown, Inc. (NYSE:BRO) by 5.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,089 shares of the financial services provider’s stock after selling 119 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Brown & Brown were worth $213,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. boosted its stake in Brown & Brown by 324.3% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock valued at $1,967,000 after purchasing an additional 14,740 shares during the period. Sanctuary Advisors LLC lifted its position in shares of Brown & Brown by 4.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock valued at $18,104,000 after acquiring an additional 6,805 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Brown & Brown by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock valued at $138,394,000 after acquiring an additional 40,881 shares during the period. Victory Capital Management Inc. lifted its position in shares of Brown & Brown by 19.9% during the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock valued at $31,055,000 after acquiring an additional 50,510 shares during the period. Finally, Silphium Asset Management Ltd lifted its position in shares of Brown & Brown by 27.5% during the 4th quarter. Silphium Asset Management Ltd now owns 48,776 shares of the financial services provider’s stock valued at $4,976,000 after acquiring an additional 10,530 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Price Performance

Shares of BRO opened at $118.38 on Friday. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $121.25. The business has a 50-day simple moving average of $111.55 and a two-hundred day simple moving average of $107.69. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $33.85 billion, a PE ratio of 34.21, a PEG ratio of 2.93 and a beta of 0.86.

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

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. Brown & Brown’s payout ratio is presently 17.34%.

Analyst Ratings Changes

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

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.