Robeco Institutional Asset Management B.V. Sells 17,270 Shares of Brown & Brown, Inc. (NYSE:BRO)

Robeco Institutional Asset Management B.V. trimmed its position in Brown & Brown, Inc. (NYSE:BRO) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 672,286 shares of the financial services provider’s stock after selling 17,270 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.24% of Brown & Brown worth $68,587,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Brown & Brown in the 3rd quarter valued at approximately $26,000. ST Germain D J Co. Inc. raised its holdings in shares of Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown in the third quarter worth $29,000. R Squared Ltd acquired a new position in Brown & Brown during the fourth quarter worth $31,000. Finally, Versant Capital Management Inc grew its position in Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 234 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Performance

NYSE BRO opened at $103.38 on Thursday. The stock has a market cap of $29.56 billion, a PE ratio of 28.17, a P/E/G ratio of 2.12 and a beta of 0.85. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a 50-day moving average of $105.51 and a 200-day moving average of $104.08. Brown & Brown, Inc. has a 52-week low of $75.79 and a 52-week high of $114.15.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating 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 anticipate that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.58%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BRO shares. Morgan Stanley assumed coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. Jefferies Financial Group increased their price target on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods decreased their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Wells Fargo & Company upped their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Royal Bank of Canada raised their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday. 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $113.17.

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.