Advisors Asset Management Inc. Lowers Position in Brown & Brown, Inc. (NYSE:BRO)

Advisors Asset Management Inc. lessened its position in Brown & Brown, Inc. (NYSE:BROGet Rating) by 73.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,062 shares of the financial services provider’s stock after selling 5,690 shares during the quarter. Advisors Asset Management Inc.’s holdings in Brown & Brown were worth $120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dupont Capital Management Corp lifted its stake in shares of Brown & Brown by 0.3% in the 2nd quarter. Dupont Capital Management Corp now owns 56,481 shares of the financial services provider’s stock valued at $3,295,000 after purchasing an additional 177 shares during the period. Lindenwold Advisors lifted its stake in shares of Brown & Brown by 1.0% in the 2nd quarter. Lindenwold Advisors now owns 19,235 shares of the financial services provider’s stock valued at $1,122,000 after purchasing an additional 183 shares during the period. AE Wealth Management LLC lifted its stake in shares of Brown & Brown by 0.3% in the 2nd quarter. AE Wealth Management LLC now owns 60,827 shares of the financial services provider’s stock valued at $3,549,000 after purchasing an additional 194 shares during the period. Column Capital Advisors LLC lifted its stake in shares of Brown & Brown by 11.7% in the 2nd quarter. Column Capital Advisors LLC now owns 1,901 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 199 shares during the period. Finally, Quent Capital LLC raised its stake in Brown & Brown by 82.2% during the second quarter. Quent Capital LLC now owns 503 shares of the financial services provider’s stock valued at $29,000 after buying an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 72.31% of the company’s stock.

Analyst Ratings Changes

BRO has been the subject of a number of recent research reports. UBS Group lowered their price objective on Brown & Brown to $62.00 in a research note on Friday, November 4th. Morgan Stanley lowered their price objective on Brown & Brown from $69.00 to $65.00 and set an “equal weight” rating for the company in a research note on Tuesday. Wells Fargo & Company lowered their price objective on Brown & Brown from $66.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 26th. Jefferies Financial Group lifted their price objective on Brown & Brown from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, October 7th. Finally, StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $66.88.

Brown & Brown Stock Down 0.1 %

Brown & Brown stock opened at $57.93 on Wednesday. The firm has a market cap of $16.41 billion, a price-to-earnings ratio of 26.21 and a beta of 0.74. The stock has a fifty day simple moving average of $59.46 and a two-hundred day simple moving average of $60.25. Brown & Brown, Inc. has a 12 month low of $52.91 and a 12 month high of $74.00. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.94.

Brown & Brown (NYSE:BROGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.10). Brown & Brown had a return on equity of 14.67% and a net margin of 18.42%. The firm had revenue of $927.60 million during the quarter, compared to the consensus estimate of $943.59 million. During the same period in the previous year, the firm earned $0.58 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Equities analysts predict that Brown & Brown, Inc. will post 2.25 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 16th. Investors of record on Wednesday, November 2nd were given a dividend of $0.115 per share. The ex-dividend date was Tuesday, November 1st. This is an increase from Brown & Brown’s previous quarterly dividend of $0.10. This represents a $0.46 annualized dividend and a yield of 0.79%. Brown & Brown’s payout ratio is 20.81%.

Brown & Brown Profile

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

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

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