Otter Creek Advisors LLC Sells 6,218 Shares of Brown & Brown, Inc. (NYSE:BRO)

Otter Creek Advisors LLC reduced its holdings in Brown & Brown, Inc. (NYSE:BRO) by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,995 shares of the financial services provider’s stock after selling 6,218 shares during the quarter. Brown & Brown comprises 2.3% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 26th largest position. Otter Creek Advisors LLC’s holdings in Brown & Brown were worth $3,366,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BRO. Mogy Joel R Investment Counsel Inc. boosted its holdings in Brown & Brown by 324.3% in the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock valued at $1,967,000 after acquiring an additional 14,740 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Brown & Brown by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after purchasing an additional 6,805 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Brown & Brown by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after purchasing an additional 17,934 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Brown & Brown during the third quarter valued at about $9,832,000. Finally, EULAV Asset Management raised its stake in Brown & Brown by 144.8% in the fourth quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock worth $43,960,000 after buying an additional 254,900 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on BRO. Barclays lifted their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada upped their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Morgan Stanley assumed coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective for the company. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Truist Financial lifted their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Brown & Brown has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Trading Down 0.0 %

Shares of NYSE BRO opened at $114.76 on Thursday. The firm’s 50 day moving average price is $105.95 and its 200-day moving average price is $105.79. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $115.34. 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 $32.81 billion, a PE ratio of 33.17, a P/E/G ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, equities research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) 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.