Northern Trust Corp Lowers Holdings in Brown & Brown, Inc. (NYSE:BRO)

Northern Trust Corp trimmed its holdings in Brown & Brown, Inc. (NYSE:BROFree Report) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,216,417 shares of the financial services provider’s stock after selling 69,094 shares during the period. Northern Trust Corp’s holdings in Brown & Brown were worth $157,609,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. Pinebridge Investments L.P. purchased a new stake in Brown & Brown in the fourth quarter valued at $25,633,000. Cibc World Markets Corp boosted its stake in shares of Brown & Brown by 45.3% during the 4th quarter. Cibc World Markets Corp now owns 54,917 shares of the financial services provider’s stock worth $3,905,000 after acquiring an additional 17,110 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Brown & Brown by 0.5% during the 4th quarter. 1832 Asset Management L.P. now owns 322,209 shares of the financial services provider’s stock worth $22,912,000 after acquiring an additional 1,757 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Brown & Brown by 203.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 45,858 shares of the financial services provider’s stock worth $3,261,000 after acquiring an additional 30,764 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Brown & Brown during the 4th quarter worth about $393,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BRO. Wells Fargo & Company increased their target price on shares of Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Royal Bank of Canada upped their price target on shares of Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods upped their price target on shares of Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a research report on Friday, May 3rd. Raymond James upped their price target on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Finally, StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and a consensus price target of $89.40.

Read Our Latest Stock Report on BRO

Brown & Brown Stock Down 0.7 %

BRO stock opened at $89.64 on Tuesday. The firm has a market cap of $25.57 billion, a PE ratio of 27.58, a PEG ratio of 2.37 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97. The firm’s 50 day moving average price is $85.73 and its 200-day moving average price is $80.85. Brown & Brown, Inc. has a one year low of $63.37 and a one year high of $91.70.

Brown & Brown (NYSE:BROGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.07 by $0.07. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 EPS. On average, equities research analysts anticipate that Brown & Brown, Inc. will post 3.61 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were issued a $0.13 dividend. The ex-dividend date was Friday, May 3rd. This represents a $0.52 annualized dividend and a yield of 0.58%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Insider Activity at Brown & Brown

In related news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the completion of the sale, the executive vice president now owns 23,597 shares in the company, valued at approximately $2,121,842.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.43% of the stock is owned by insiders.

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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