Wealthfront Advisers LLC Has $598,000 Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Wealthfront Advisers LLC reduced its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 33.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,857 shares of the financial services provider’s stock after selling 2,880 shares during the quarter. Wealthfront Advisers LLC’s holdings in Brown & Brown were worth $598,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Tower Wealth Partners Inc. acquired a new position in shares of Brown & Brown during the 4th quarter worth about $201,000. Daiwa Securities Group Inc. grew its position in shares of Brown & Brown by 7.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 31,719 shares of the financial services provider’s stock worth $3,236,000 after buying an additional 2,325 shares during the period. Moran Wealth Management LLC grew its position in shares of Brown & Brown by 5.8% during the 4th quarter. Moran Wealth Management LLC now owns 29,083 shares of the financial services provider’s stock worth $2,967,000 after buying an additional 1,607 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Brown & Brown by 15.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,511 shares of the financial services provider’s stock worth $5,357,000 after buying an additional 7,133 shares during the period. Finally, Dundas Partners LLP grew its position in shares of Brown & Brown by 5.0% during the 4th quarter. Dundas Partners LLP now owns 503,111 shares of the financial services provider’s stock worth $51,327,000 after buying an additional 23,906 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Up 0.3 %

Shares of Brown & Brown stock opened at $118.21 on Monday. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $121.25. The stock has a market cap of $33.80 billion, a P/E ratio of 34.16, a P/E/G ratio of 2.93 and a beta of 0.85. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $109.79 and its 200-day moving average is $107.20.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Equities research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 17.34%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BRO shares. Morgan Stanley began coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 target price for the company. Barclays boosted their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada boosted their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Bank of America boosted their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company boosted their target price on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Profile

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.