Prudential Financial Inc. Lowers Holdings in Brown & Brown, Inc. (NYSE:BRO)

Prudential Financial Inc. trimmed its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 16.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 124,841 shares of the financial services provider’s stock after selling 24,487 shares during the period. Prudential Financial Inc.’s holdings in Brown & Brown were worth $12,736,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in shares of Brown & Brown during the third quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in Brown & Brown in the 4th quarter valued at approximately $28,000. Y.D. More Investments Ltd boosted its stake in Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares during the last quarter. R Squared Ltd bought a new stake in shares of Brown & Brown in the 4th quarter worth $31,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Brown & Brown in the fourth quarter worth $37,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $123.08 on Friday. The stock has a market cap of $35.19 billion, a P/E ratio of 35.57, a P/E/G ratio of 2.93 and a beta of 0.86. 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’s fifty day moving average is $112.98 and its 200 day moving average is $108.14. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $123.24.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 17.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank of Canada increased their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research 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 report on Wednesday, January 29th. Morgan Stanley restated an “equal weight” rating and set a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday. Keefe, Bruyette & Woods decreased their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Finally, Bank of America raised their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $112.67.

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.