Ensign Peak Advisors Inc Trims Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Ensign Peak Advisors Inc reduced its position in Brown & Brown, Inc. (NYSE:BRO) by 14.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,113 shares of the financial services provider’s stock after selling 20,241 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Brown & Brown were worth $12,458,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in Brown & Brown during the 4th quarter worth $313,412,000. First Trust Advisors LP grew its holdings in shares of Brown & Brown by 626.6% during the fourth quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider’s stock worth $239,751,000 after buying an additional 2,026,589 shares during the last quarter. Madison Investment Advisors LLC acquired a new position in Brown & Brown in the 4th quarter valued at about $198,031,000. Vanguard Group Inc. increased its position in Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock valued at $3,054,493,000 after acquiring an additional 1,335,964 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in Brown & Brown by 11,337.8% during the 4th 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. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Stock Down 0.1%

BRO opened at $111.42 on Monday. 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 company has a market cap of $31.93 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.93 and a beta of 0.87. Brown & Brown, Inc. has a one year low of $85.97 and a one year high of $125.68. The business’s fifty day moving average is $117.15 and its two-hundred day moving average is $110.90.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. Brown & Brown’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts anticipate 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 will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. Brown & Brown’s dividend payout ratio (DPR) is 16.71%.

Wall Street Analyst Weigh In

BRO has been the topic of several analyst reports. Bank of America lifted their target price on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Royal Bank of Canada increased their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley restated an “equal weight” rating and issued a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. Finally, Jefferies Financial Group boosted their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average price target of $116.67.

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.