Clarkston Capital Partners LLC Has $96.71 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Clarkston Capital Partners LLC reduced its stake in Brown & Brown, Inc. (NYSE:BRO) by 2.9% during the 4th quarter, HoldingsChannel reports. The fund owned 947,980 shares of the financial services provider’s stock after selling 28,535 shares during the quarter. Brown & Brown comprises 1.9% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 17th largest position. Clarkston Capital Partners LLC’s holdings in Brown & Brown were worth $96,713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BRO. Mogy Joel R Investment Counsel Inc. boosted its position in Brown & Brown by 324.3% during the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after acquiring an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Brown & Brown by 4.4% in the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock valued at $18,104,000 after buying an additional 6,805 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Brown & Brown by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock worth $138,394,000 after buying an additional 40,881 shares during the last quarter. Victory Capital Management Inc. raised its position in Brown & Brown by 19.9% during the fourth quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock worth $31,055,000 after acquiring an additional 50,510 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Brown & Brown by 47.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 168,838 shares of the financial services provider’s stock valued at $17,225,000 after acquiring an additional 54,246 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Brown & Brown stock opened at $115.01 on Friday. The stock has a fifty day moving average of $115.03 and a 200-day moving average of $108.97. The stock has a market capitalization of $32.89 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $125.68.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, sell-side analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.52%. Brown & Brown’s dividend payout ratio is presently 17.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BRO. Wells Fargo & Company boosted their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada raised their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Bank of America upped their price target 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. Keefe, Bruyette & Woods decreased their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus target price of $112.67.

About Brown & Brown

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.