Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lowered its stake in shares of Brown & Brown, Inc. (NYSE:BROGet Rating) by 12.1% during the fourth quarter, Holdings Channel reports. The firm owned 4,611 shares of the financial services provider’s stock after selling 634 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Brown & Brown were worth $256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. My Personal CFO LLC acquired a new stake in Brown & Brown during the fourth quarter worth approximately $25,000. Asset Dedication LLC purchased a new position in Brown & Brown in the 4th quarter valued at $29,000. U.S. Capital Wealth Advisors LLC purchased a new position in Brown & Brown in the 4th quarter valued at $42,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of Brown & Brown during the 1st quarter worth $52,000. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Brown & Brown during the 2nd quarter worth $52,000. Institutional investors and hedge funds own 69.52% of the company’s stock.

Analyst Upgrades and Downgrades

BRO has been the topic of a number of research reports. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Financial Group lowered their price objective on shares of Brown & Brown from $69.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, April 10th. Citigroup raised shares of Brown & Brown from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $69.00 in a research note on Tuesday, April 18th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Brown & Brown from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, April 18th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Brown & Brown has a consensus rating of “Moderate Buy” and an average target price of $66.64.

Brown & Brown Price Performance

Brown & Brown stock opened at $63.09 on Friday. Brown & Brown, Inc. has a 12-month low of $52.82 and a 12-month high of $68.43. The stock has a market capitalization of $17.89 billion, a P/E ratio of 26.07 and a beta of 0.75. The firm’s 50-day moving average is $61.07 and its two-hundred day moving average is $58.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.49 and a quick ratio of 2.49.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 17th. Shareholders of record on Monday, May 8th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, May 5th. This represents a $0.46 annualized dividend and a dividend yield of 0.73%. Brown & Brown’s dividend payout ratio is currently 19.01%.

Brown & Brown Profile

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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.

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

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