Swiss National Bank Trims Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Swiss National Bank cut its holdings in shares of Brown & Brown, Inc. (NYSE:BROFree Report) by 11.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 774,700 shares of the financial services provider’s stock after selling 97,900 shares during the quarter. Swiss National Bank owned about 0.27% of Brown & Brown worth $54,105,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BRO. Group One Trading L.P. purchased a new position in Brown & Brown during the first quarter worth about $201,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Brown & Brown by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,373 shares of the financial services provider’s stock worth $2,267,000 after purchasing an additional 1,950 shares during the period. Cibc World Market Inc. purchased a new position in Brown & Brown during the first quarter worth about $354,000. Vontobel Holding Ltd. raised its stake in Brown & Brown by 37.1% during the first quarter. Vontobel Holding Ltd. now owns 5,550 shares of the financial services provider’s stock worth $404,000 after purchasing an additional 1,502 shares during the period. Finally, Sei Investments Co. raised its stake in Brown & Brown by 608.0% during the first quarter. Sei Investments Co. now owns 43,409 shares of the financial services provider’s stock worth $3,135,000 after purchasing an additional 37,278 shares during the period. 70.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on BRO shares. The Goldman Sachs Group raised shares of Brown & Brown from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $84.00 to $83.00 in a research note on Monday, January 8th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Wednesday, December 13th. Jefferies Financial Group cut shares of Brown & Brown from a “buy” rating to a “hold” rating and lowered their price target for the stock from $85.00 to $78.00 in a report on Tuesday, January 9th. Bank of America started coverage on shares of Brown & Brown in a report on Tuesday, December 12th. They set a “neutral” rating and a $77.00 price target for the company. Finally, Wells Fargo & Company upped their target price on shares of Brown & Brown from $72.00 to $81.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $82.70.

Check Out Our Latest Analysis on Brown & Brown

Brown & Brown Stock Up 1.1 %

Shares of Brown & Brown stock opened at $78.41 on Wednesday. The company has a market cap of $22.32 billion, a P/E ratio of 25.62, a PEG ratio of 2.75 and a beta of 0.78. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.85 and a current ratio of 1.92. Brown & Brown, Inc. has a one year low of $52.82 and a one year high of $79.99. The firm has a fifty day moving average of $73.69 and a two-hundred day moving average of $72.31.

Brown & Brown (NYSE:BROGet Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $1.03 billion for the quarter. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. During the same period in the previous year, the company posted $0.50 earnings per share. On average, analysts forecast that Brown & Brown, Inc. will post 3.2 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, February 1st. This represents a $0.52 annualized dividend and a dividend yield of 0.66%. Brown & Brown’s dividend payout ratio is currently 16.99%.

Brown & Brown Company Profile

(Free Report)

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, 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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