Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc cut its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 91,502 shares of the financial services provider’s stock after selling 3,890 shares during the quarter. Brown & Brown accounts for 0.9% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 28th biggest holding. Marks Group Wealth Management Inc’s holdings in Brown & Brown were worth $9,335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Brown & Brown in the 3rd quarter valued at about $26,000. ST Germain D J Co. Inc. lifted its holdings in shares of Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Brown & Brown in the third quarter valued at approximately $29,000. Y.D. More Investments Ltd increased its stake in shares of Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 162 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Brown & Brown during the 4th quarter worth approximately $31,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods lowered their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Barclays boosted their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Bank of America upped their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Stock Performance

Brown & Brown stock opened at $108.78 on Wednesday. The firm has a market capitalization of $31.11 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $114.15. The stock’s 50 day moving average price is $104.54 and its 200 day moving average price is $104.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.73 and a current ratio of 1.79.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, sell-side analysts expect that Brown & Brown, Inc. will post 4.15 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be given a $0.15 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. Brown & Brown’s payout ratio is currently 17.34%.

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.