Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its stake in Brown & Brown, Inc. (NYSE:BROFree Report) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 204,554 shares of the financial services provider’s stock after selling 3,861 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of Brown & Brown worth $14,287,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BRO. Group One Trading L.P. purchased a new position in Brown & Brown during the 1st quarter worth $201,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings 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 in the last quarter. Cibc World Market Inc. acquired a new stake in Brown & Brown in the first quarter valued at about $354,000. Vontobel Holding Ltd. boosted its holdings in Brown & Brown by 37.1% in the 1st quarter. Vontobel Holding Ltd. now owns 5,550 shares of the financial services provider’s stock valued at $404,000 after purchasing an additional 1,502 shares in the last quarter. Finally, Sei Investments Co. increased its position in Brown & Brown by 608.0% during the 1st 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. Hedge funds and other institutional investors own 70.33% of the company’s stock.

Wall Street Analyst Weigh In

BRO has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Brown & Brown from $72.00 to $81.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. UBS Group raised their price objective on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Jefferies Financial Group lowered shares of Brown & Brown from a “buy” rating to a “hold” rating and lowered their target price for the stock from $85.00 to $78.00 in a research report on Tuesday, January 9th. Bank of America began coverage on Brown & Brown in a research note on Tuesday, December 12th. They set a “neutral” rating and a $77.00 price target on the stock. Finally, The Goldman Sachs Group raised Brown & Brown from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $84.00 to $83.00 in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $82.70.

View Our Latest Research Report on BRO

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $79.94 on Friday. The company has a 50-day simple moving average of $73.91 and a 200-day simple moving average of $72.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.85. The company has a market cap of $22.75 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 2.80 and a beta of 0.78. Brown & Brown, Inc. has a 12 month low of $52.82 and a 12 month high of $80.17.

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

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, February 1st. Brown & Brown’s dividend payout ratio (DPR) is 16.99%.

About Brown & Brown

(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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