Next Level Private LLC Lowers Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Next Level Private LLC trimmed its stake in Brown & Brown, Inc. (NYSE:BRO) by 16.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,429 shares of the financial services provider’s stock after selling 1,085 shares during the period. Next Level Private LLC’s holdings in Brown & Brown were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Studio Investment Management LLC boosted its holdings in Brown & Brown by 1.5% during the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock worth $675,000 after buying an additional 96 shares in the last quarter. Trust Point Inc. boosted its holdings in Brown & Brown by 4.3% during the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after buying an additional 103 shares in the last quarter. CWA Asset Management Group LLC boosted its holdings in Brown & Brown by 3.7% during the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock worth $297,000 after buying an additional 103 shares in the last quarter. Creative Planning boosted its holdings in Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock worth $3,097,000 after buying an additional 112 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in Brown & Brown by 0.5% during the third quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock worth $2,375,000 after buying an additional 113 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BRO. Jefferies Financial Group increased their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods lowered their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Bank of America increased their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada increased their price objective on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley initiated coverage on shares of Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $112.08.

Brown & Brown Stock Performance

NYSE:BRO opened at $107.93 on Tuesday. The company’s 50-day moving average price is $105.72 and its 200-day moving average price is $104.00. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The company has a market cap of $30.86 billion, a P/E ratio of 29.41, a P/E/G ratio of 2.12 and a beta of 0.85. Brown & Brown, Inc. has a twelve month low of $75.79 and a twelve month high of $114.15.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results 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 22.65% and a return on equity of 17.12%. On average, sell-side analysts forecast that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 16.35%.

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.