Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 1,075 Shares of Brown & Brown, Inc. (NYSE:BRO)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,467 shares of the financial services provider’s stock after selling 1,075 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Brown & Brown were worth $5,149,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in Brown & Brown by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock valued at $1,316,259,000 after purchasing an additional 94,121 shares during the period. Barclays PLC lifted its position in Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after purchasing an additional 371,980 shares during the period. Madison Investment Advisors LLC purchased a new stake in Brown & Brown during the fourth quarter valued at approximately $198,031,000. Royal London Asset Management Ltd. raised its position in Brown & Brown by 3.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 1,768,070 shares of the financial services provider’s stock worth $180,378,000 after acquiring an additional 50,885 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Brown & Brown by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock worth $138,394,000 after acquiring an additional 40,881 shares during the period. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. 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 research 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 research report on Tuesday, January 28th. Morgan Stanley assumed coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target on the stock. Finally, Wells Fargo & Company increased their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $118.38 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $33.85 billion, a P/E ratio of 34.21, a P/E/G ratio of 2.93 and a beta of 0.86. The firm’s fifty day moving average is $111.55 and its two-hundred day moving average is $107.69. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $121.25.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (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%. As a group, analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid 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 dividend yield of 0.51%. Brown & Brown’s payout ratio is currently 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.