Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Heron Bay Capital Management

Heron Bay Capital Management decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,584 shares of the financial services provider’s stock after selling 275 shares during the quarter. Brown & Brown makes up approximately 2.1% of Heron Bay Capital Management’s portfolio, making the stock its 20th biggest position. Heron Bay Capital Management’s holdings in Brown & Brown were worth $10,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of Brown & Brown during the 3rd quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Brown & Brown in the fourth quarter valued at $28,000. Y.D. More Investments Ltd boosted its stake in Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 162 shares in the last quarter. R Squared Ltd acquired a new position in Brown & Brown in the fourth quarter valued at $31,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Brown & Brown during the fourth quarter worth about $37,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BRO shares. Wells Fargo & Company boosted their target price on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Bank of America increased their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Royal Bank of Canada lifted their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley began coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target for the company. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Performance

Shares of BRO stock opened at $118.38 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $121.25. The company has a market cap of $33.85 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The stock has a 50 day simple moving average of $111.55 and a 200-day simple moving average of $107.69.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current 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 issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.51%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

Brown & Brown Company 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.