Brown & Brown, Inc. (NYSE:BRO) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. trimmed its position in Brown & Brown, Inc. (NYSE:BRO) by 64.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,159 shares of the financial services provider’s stock after selling 2,108 shares during the quarter. iA Global Asset Management Inc.’s holdings in Brown & Brown were worth $118,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Brown & Brown by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock worth $1,316,259,000 after purchasing an additional 94,121 shares during the last quarter. Barclays PLC lifted its position in shares of Brown & Brown by 17.8% during the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after purchasing an additional 371,980 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of Brown & Brown during the 4th quarter worth $198,031,000. Royal London Asset Management Ltd. lifted its position in shares of Brown & Brown by 3.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 1,768,070 shares of the financial services provider’s stock worth $180,378,000 after purchasing an additional 50,885 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Brown & Brown by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock worth $138,394,000 after purchasing an additional 40,881 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $118.38 on Friday. The company has a 50-day simple moving average of $111.55 and a 200-day simple moving average of $107.69. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $121.25. 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 market capitalization of $33.85 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 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, analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.51%. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

Analyst Ratings Changes

BRO has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Bank of America boosted their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley started coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target for the company. One research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $113.17.

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.