Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC trimmed its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 48.9% in the third quarter, Holdings Channel.com reports. The firm owned 272 shares of the financial services provider’s stock after selling 260 shares during the period. Larson Financial Group LLC’s holdings in Brown & Brown were worth $28,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its position in shares of Brown & Brown by 53.3% during the third quarter. Cerity Partners LLC now owns 54,252 shares of the financial services provider’s stock worth $5,620,000 after acquiring an additional 18,869 shares during the last quarter. Great Valley Advisor Group Inc. raised its position in shares of Brown & Brown by 137.4% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 40,148 shares of the financial services provider’s stock valued at $4,159,000 after purchasing an additional 23,240 shares in the last quarter. Keyes Stange & Wooten Wealth Management LLC boosted its stake in shares of Brown & Brown by 10.7% during the 3rd quarter. Keyes Stange & Wooten Wealth Management LLC now owns 8,412 shares of the financial services provider’s stock valued at $871,000 after buying an additional 815 shares during the last quarter. Studio Investment Management LLC grew its position in shares of Brown & Brown by 1.5% during the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock worth $675,000 after buying an additional 96 shares in the last quarter. Finally, Citigroup Inc. increased its stake in shares of Brown & Brown by 1.6% in the third quarter. Citigroup Inc. now owns 275,479 shares of the financial services provider’s stock worth $28,540,000 after buying an additional 4,322 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Down 0.1 %

BRO stock opened at $113.10 on Friday. The stock has a market cap of $32.34 billion, a PE ratio of 30.82, a price-to-earnings-growth ratio of 2.60 and a beta of 0.82. The firm’s 50-day simple moving average is $107.21 and its 200 day simple moving average is $99.83. Brown & Brown, Inc. has a fifty-two week low of $69.13 and a fifty-two week high of $114.15. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned $0.71 earnings per share. Brown & Brown’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a $0.15 dividend. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.53%. Brown & Brown’s dividend payout ratio is presently 16.35%.

Analyst Ratings Changes

A number of research firms have commented on BRO. Bank of America increased their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Argus started coverage on Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective for the company. Barclays increased their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Royal Bank of Canada upped their price target on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One 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 data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and a consensus target price of $107.42.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.