Brown & Brown, Inc. (BRO) Holdings Cut by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,029,557 shares of the financial services provider’s stock after selling 389,917 shares during the quarter. Victory Capital Management Inc. owned about 2.16% of Brown & Brown worth $166,175,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BRO. Tandem Investment Advisors Inc. increased its stake in Brown & Brown by 4.3% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 485,140 shares of the financial services provider’s stock worth $14,346,000 after acquiring an additional 19,819 shares during the last quarter. First Hawaiian Bank bought a new position in shares of Brown & Brown during the 3rd quarter valued at approximately $662,000. Aperio Group LLC increased its position in shares of Brown & Brown by 36.3% during the 3rd quarter. Aperio Group LLC now owns 74,048 shares of the financial services provider’s stock valued at $2,190,000 after purchasing an additional 19,733 shares during the last quarter. Oakbrook Investments LLC increased its position in shares of Brown & Brown by 29.9% during the 3rd quarter. Oakbrook Investments LLC now owns 28,250 shares of the financial services provider’s stock valued at $835,000 after purchasing an additional 6,500 shares during the last quarter. Finally, BTIM Corp. increased its position in shares of Brown & Brown by 1.9% during the 3rd quarter. BTIM Corp. now owns 415,381 shares of the financial services provider’s stock valued at $12,283,000 after purchasing an additional 7,591 shares during the last quarter. 72.26% of the stock is owned by institutional investors.

BRO has been the topic of several analyst reports. Zacks Investment Research downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research report on Thursday, January 31st. Barclays boosted their target price on Brown & Brown from $23.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, November 12th. ValuEngine raised Brown & Brown from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Wells Fargo & Co reissued a “hold” rating and set a $28.00 target price on shares of Brown & Brown in a research report on Monday, October 22nd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Brown & Brown presently has an average rating of “Hold” and an average target price of $29.00.

Shares of NYSE BRO traded up $0.19 during trading hours on Tuesday, hitting $28.32. 481,948 shares of the company traded hands, compared to its average volume of 1,280,189. The company has a market cap of $7.77 billion, a P/E ratio of 23.02, a P/E/G ratio of 2.07 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.96 and a current ratio of 0.95. Brown & Brown, Inc. has a 12 month low of $24.34 and a 12 month high of $31.55.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 28th. The financial services provider reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). The business had revenue of $508.70 million during the quarter, compared to the consensus estimate of $503.52 million. Brown & Brown had a net margin of 17.09% and a return on equity of 12.03%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $0.24 EPS. As a group, equities analysts predict that Brown & Brown, Inc. will post 1.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 20th. Shareholders of record on Wednesday, February 6th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 26.02%.

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About Brown & Brown

Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.

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

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