D L Carlson Investment Group Inc. Cuts Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

D L Carlson Investment Group Inc. reduced its stake in Brown & Brown, Inc. (NYSE:BRO) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,081 shares of the financial services provider’s stock after selling 608 shares during the quarter. D L Carlson Investment Group Inc.’s holdings in Brown & Brown were worth $4,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of BRO. Journey Strategic Wealth LLC raised its position in shares of Brown & Brown by 2.3% during the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $458,000 after buying an additional 99 shares in the last quarter. CWA Asset Management Group LLC increased its stake in Brown & Brown by 3.7% in the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 103 shares during the last quarter. Bleakley Financial Group LLC raised its position in Brown & Brown by 3.4% during the fourth quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 103 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Brown & Brown by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 4,664 shares of the financial services provider’s stock worth $476,000 after purchasing an additional 113 shares during the last quarter. Finally, Ascent Group LLC boosted its holdings in shares of Brown & Brown by 4.5% in the 3rd quarter. Ascent Group LLC now owns 2,722 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 117 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BRO has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Morgan Stanley reissued an “equal weight” rating and set a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. Royal Bank of Canada upped their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Bank of America upped their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $112.67.

Brown & Brown Stock Up 0.1 %

Shares of NYSE:BRO opened at $122.97 on Monday. The stock’s 50-day moving average is $113.33 and its 200 day moving average is $108.31. The company has a market cap of $35.16 billion, a PE ratio of 35.54, 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 current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $123.24.

Brown & Brown (NYSE:BRO) last posted its 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 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 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.49%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

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.