Brown & Brown, Inc. (NYSE:BRO) Stock Holdings Trimmed by Unigestion Holding SA

Unigestion Holding SA decreased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,166 shares of the financial services provider’s stock after selling 1,739 shares during the quarter. Unigestion Holding SA’s holdings in Brown & Brown were worth $830,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Moloney Securities Asset Management LLC grew its position in Brown & Brown by 1.5% in the 1st quarter. Moloney Securities Asset Management LLC now owns 17,010 shares of the financial services provider’s stock valued at $778,000 after buying an additional 249 shares in the last quarter. FormulaFolio Investments LLC raised its holdings in Brown & Brown by 3.8% during the fourth quarter. FormulaFolio Investments LLC now owns 6,990 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 255 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Brown & Brown by 1.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 23,366 shares of the financial services provider’s stock worth $1,108,000 after purchasing an additional 256 shares during the period. Bruderman Asset Management LLC boosted its stake in Brown & Brown by 4.8% during the 1st quarter. Bruderman Asset Management LLC now owns 5,822 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 269 shares in the last quarter. Finally, Mattern Capital Management LLC increased its position in shares of Brown & Brown by 0.3% during the 4th quarter. Mattern Capital Management LLC now owns 109,272 shares of the financial services provider’s stock valued at $5,181,000 after purchasing an additional 283 shares during the period. 69.06% of the stock is currently owned by institutional investors.

In related news, Chairman Hyatt J. Brown sold 850,000 shares of the stock in a transaction that occurred on Thursday, April 29th. The stock was sold at an average price of $51.66, for a total value of $43,911,000.00. Following the transaction, the chairman now owns 55,914 shares in the company, valued at $2,888,517.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert W. Lloyd sold 9,629 shares of the stock in a transaction that occurred on Thursday, May 6th. The stock was sold at an average price of $53.52, for a total value of $515,344.08. The disclosure for this sale can be found here. 17.13% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods raised shares of Brown & Brown from a “market perform” rating to an “outperform” rating and upped their price target for the company from $50.00 to $54.00 in a report on Monday, January 18th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Brown & Brown from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Wednesday, April 28th. Morgan Stanley cut their price objective on Brown & Brown from $51.00 to $50.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 30th. Raymond James lifted their target price on Brown & Brown from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, May 4th. Finally, Royal Bank of Canada upped their target price on Brown & Brown from $48.00 to $53.00 and gave the company a “sector perform” rating in a report on Tuesday, May 4th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.11.

BRO stock opened at $52.23 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.55. Brown & Brown, Inc. has a one year low of $37.90 and a one year high of $54.37. The firm has a market capitalization of $14.72 billion, a PE ratio of 32.24 and a beta of 0.66. The firm has a 50-day moving average of $50.01 and a two-hundred day moving average of $46.93.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Sunday, April 25th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.14. The business had revenue of $815.30 million during the quarter, compared to analyst estimates of $755.74 million. Brown & Brown had a net margin of 18.02% and a return on equity of 13.26%. The firm’s revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. On average, equities research analysts anticipate that Brown & Brown, Inc. will post 1.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 19th. Stockholders of record on Monday, May 10th will be given a $0.093 dividend. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.71%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, May 7th. Brown & Brown’s dividend payout ratio is 26.43%.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Bermuda, Canada, Cayman Islands, Ireland, and the United Kingdom. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The company offers builders risk, group medical and pharmaceutical, property, commercial auto, homeowners, reinsurance, crop and hail, inland marine, retirement benefit, cyber, disability, risk mitigating warranty products, directors and officers, management liability, errors and omissions, medical stop loss, term life, excess liability, personal auto, umbrella, general liability, prescription drug, workers compensation, and group dental insurance products.

See Also: Short Selling – Explanation For Shorting Stocks

Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

Receive News & Ratings for Brown & Brown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown and related companies with MarketBeat.com's FREE daily email newsletter.