California Public Employees Retirement System Sells 6,908 Shares of Brown & Brown, Inc. (NYSE:BRO)

California Public Employees Retirement System lowered its holdings in Brown & Brown, Inc. (NYSE:BRO) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,102,970 shares of the financial services provider’s stock after selling 6,908 shares during the period. California Public Employees Retirement System’s holdings in Brown & Brown were worth $112,525,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BRO. Dorsey Wright & Associates increased its position in shares of Brown & Brown by 3.8% in the fourth quarter. Dorsey Wright & Associates now owns 34,135 shares of the financial services provider’s stock valued at $3,482,000 after acquiring an additional 1,259 shares during the last quarter. RWA Wealth Partners LLC bought a new position in Brown & Brown in the fourth quarter valued at approximately $609,000. Schroder Investment Management Group grew its stake in Brown & Brown by 2.8% in the fourth quarter. Schroder Investment Management Group now owns 18,596 shares of the financial services provider’s stock valued at $1,897,000 after purchasing an additional 515 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Brown & Brown by 395.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider’s stock worth $3,489,000 after purchasing an additional 27,297 shares during the last quarter. Finally, Intrust Bank NA raised its stake in shares of Brown & Brown by 27.8% during the 4th quarter. Intrust Bank NA now owns 3,039 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 661 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

NYSE:BRO opened at $124.53 on Tuesday. The company has a market cap of $35.61 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $124.97. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a fifty day moving average price of $113.71 and a 200-day moving average price of $108.52.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping 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%. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.48%. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BRO shares. Keefe, Bruyette & Woods decreased their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Bank of America boosted their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Royal Bank of Canada raised their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Morgan Stanley reissued an “equal weight” rating and set a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. Finally, Wells Fargo & Company raised their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $112.67.

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.