Brookstone Capital Management Trims Stake in Brown & Brown, Inc. $BRO

Brookstone Capital Management lowered its position in Brown & Brown, Inc. (NYSE:BRO) by 80.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,484 shares of the financial services provider’s stock after selling 30,910 shares during the period. Brookstone Capital Management’s holdings in Brown & Brown were worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. AQR Capital Management LLC grew its stake in shares of Brown & Brown by 38.3% during the first quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock valued at $4,132,000 after buying an additional 9,264 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Brown & Brown by 5.2% during the 1st quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock worth $1,387,000 after acquiring an additional 547 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Brown & Brown by 3.4% during the 2nd quarter. M&T Bank Corp now owns 15,196 shares of the financial services provider’s stock worth $1,685,000 after acquiring an additional 503 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Brown & Brown by 1,824.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 53,103 shares of the financial services provider’s stock valued at $5,888,000 after acquiring an additional 50,344 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Brown & Brown by 27.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 223 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Down 0.1%

Shares of NYSE BRO opened at $65.91 on Monday. Brown & Brown, Inc. has a twelve month low of $63.29 and a twelve month high of $125.68. The firm has a market cap of $22.44 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.66 and a beta of 0.83. The business has a fifty day simple moving average of $69.42 and a two-hundred day simple moving average of $78.59. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.65 billion. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The business’s revenue was up 35.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. Analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.0%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s dividend payout ratio is presently 20.63%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. assumed coverage on Brown & Brown in a research note on Thursday, December 18th. They issued a “neutral” rating and a $91.00 target price on the stock. Barclays lowered their target price on shares of Brown & Brown from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 11th. Keefe, Bruyette & Woods upgraded shares of Brown & Brown from an “underperform” rating to a “market perform” rating and cut their price target for the stock from $80.00 to $73.00 in a report on Thursday, January 29th. Jefferies Financial Group decreased their price objective on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Finally, Bank of America lowered their price objective on shares of Brown & Brown from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $89.33.

Brown & Brown Company Profile

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.