Barclays PLC Has $230.28 Million Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Barclays PLC lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 8.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,257,207 shares of the financial services provider’s stock after selling 209,375 shares during the quarter. Barclays PLC’s holdings in Brown & Brown were worth $230,280,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BRO. Norges Bank acquired a new position in Brown & Brown during the 4th quarter worth about $313,412,000. Madison Investment Advisors LLC bought a new position in shares of Brown & Brown during the fourth quarter worth about $198,031,000. Vanguard Group Inc. lifted its stake in shares of Brown & Brown by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock worth $3,054,493,000 after acquiring an additional 1,335,964 shares during the period. Proficio Capital Partners LLC boosted its holdings in Brown & Brown by 11,337.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider’s stock valued at $1,109,000 after acquiring an additional 1,099,199 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Brown & Brown during the 4th quarter valued at approximately $71,915,000. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BRO. Bank of America increased their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Jefferies Financial Group raised their target price on Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research report on Friday. Keefe, Bruyette & Woods upped their price target on Brown & Brown from $97.00 to $102.00 and gave the company an “underperform” rating in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company lifted their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One investment 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’s stock. According to data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus price target of $115.83.

Brown & Brown Trading Up 1.8 %

Shares of BRO opened at $120.98 on Tuesday. The business’s 50-day moving average price is $116.67 and its 200-day moving average price is $109.76. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $125.68. The stock has a market cap of $34.59 billion, a PE ratio of 34.97, a P/E/G ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) 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%. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio 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.