Financiere des Professionnels Fonds d investissement inc. Sells 7,618 Shares of Brown & Brown, Inc. $BRO

Financiere des Professionnels Fonds d investissement inc. reduced its stake in Brown & Brown, Inc. (NYSE:BRO) by 87.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,131 shares of the financial services provider’s stock after selling 7,618 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in Brown & Brown were worth $106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BRO. Simon Quick Advisors LLC increased its position in Brown & Brown by 10.2% in the third quarter. Simon Quick Advisors LLC now owns 9,311 shares of the financial services provider’s stock worth $873,000 after buying an additional 860 shares in the last quarter. GAM Holding AG grew its stake in shares of Brown & Brown by 80.8% during the 3rd quarter. GAM Holding AG now owns 21,292 shares of the financial services provider’s stock valued at $1,997,000 after acquiring an additional 9,517 shares during the period. SOA Wealth Advisors LLC. purchased a new stake in Brown & Brown in the 3rd quarter worth approximately $104,000. Suncoast Equity Management increased its holdings in Brown & Brown by 1.6% in the 3rd quarter. Suncoast Equity Management now owns 12,569 shares of the financial services provider’s stock worth $1,179,000 after acquiring an additional 195 shares in the last quarter. Finally, Silver Oak Securities Incorporated raised its stake in Brown & Brown by 119.3% during the 3rd quarter. Silver Oak Securities Incorporated now owns 6,988 shares of the financial services provider’s stock worth $655,000 after acquiring an additional 3,802 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $77.60 on Monday. The company has a market cap of $26.50 billion, a P/E ratio of 23.23, a P/E/G ratio of 1.65 and a beta of 0.81. Brown & Brown, Inc. has a 52-week low of $76.17 and a 52-week high of $125.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.10 and a current ratio of 2.10. The firm’s fifty day moving average is $80.01 and its two-hundred day moving average is $91.40.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the business posted $0.91 earnings per share. The business’s quarterly revenue was up 35.4% compared to the same quarter last year. As a group, analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 5th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s dividend payout ratio is presently 19.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BRO shares. Wall Street Zen upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Morgan Stanley lowered their target price on shares of Brown & Brown from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, November 17th. Mizuho set a $89.00 price target on Brown & Brown and gave the stock a “neutral” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. started coverage on Brown & Brown in a report on Thursday, December 18th. They set a “neutral” rating and a $91.00 price target on the stock. Finally, Raymond James Financial restated an “outperform” rating on shares of Brown & Brown in a research report on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $99.80.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.