Frank Rimerman Advisors LLC Has $333,000 Position in Brown & Brown, Inc. (NYSE:BRO)

Frank Rimerman Advisors LLC grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,265 shares of the financial services provider’s stock after purchasing an additional 143 shares during the period. Frank Rimerman Advisors LLC’s holdings in Brown & Brown were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Madison Investment Advisors LLC acquired a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $198,031,000. Commonwealth Equity Services LLC boosted its stake in shares of Brown & Brown by 47.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 168,838 shares of the financial services provider’s stock valued at $17,225,000 after purchasing an additional 54,246 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Brown & Brown by 79.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 217 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Brown & Brown by 29.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 8,886 shares of the financial services provider’s stock valued at $907,000 after buying an additional 2,000 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in Brown & Brown by 4.5% in the 4th quarter. HighTower Advisors LLC now owns 86,299 shares of the financial services provider’s stock valued at $8,804,000 after buying an additional 3,754 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

NYSE:BRO opened at $118.21 on Monday. The company has a fifty day moving average of $109.79 and a 200-day moving average of $107.20. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $121.25. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $33.80 billion, a P/E ratio of 34.16, a P/E/G ratio of 2.93 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.51%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s payout ratio is currently 17.34%.

Analyst Ratings Changes

BRO has been the subject of a number of research reports. Barclays raised their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Royal Bank of Canada raised their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley initiated coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective for the company. Bank of America raised their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company raised 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.