Kesler Norman & Wride LLC Has $1.83 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Kesler Norman & Wride LLC reduced its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 19.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,951 shares of the financial services provider’s stock after selling 4,386 shares during the period. Kesler Norman & Wride LLC’s holdings in Brown & Brown were worth $1,831,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BRO. Mogy Joel R Investment Counsel Inc. increased its position 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 acquiring an additional 14,740 shares during the period. Sanctuary Advisors LLC increased its holdings in Brown & Brown by 4.4% in the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock valued at $18,104,000 after purchasing an additional 6,805 shares during the period. Charles Schwab Investment Management Inc. raised its position in 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 worth $138,394,000 after purchasing an additional 40,881 shares during the last quarter. Victory Capital Management Inc. raised its position in 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 worth $31,055,000 after purchasing an additional 50,510 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Brown & Brown by 47.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 168,838 shares of the financial services provider’s stock worth $17,225,000 after buying an additional 54,246 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BRO shares. Morgan Stanley restated an “equal weight” rating and set a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Bank of America raised 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. Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company boosted their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada raised their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $112.67.

Brown & Brown Stock Down 0.2 %

BRO opened at $124.09 on Wednesday. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $125.68. The company’s 50-day moving average price is $113.71 and its two-hundred day moving average price is $108.52. The stock has a market cap of $35.48 billion, a price-to-earnings ratio of 35.86, a PEG ratio of 2.93 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 (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. As a group, equities analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is currently 17.34%.

Brown & Brown 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.