Tandem Investment Advisors Inc. decreased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,495 shares of the financial services provider’s stock after selling 7,560 shares during the quarter. Brown & Brown makes up approximately 4.0% of Tandem Investment Advisors Inc.’s holdings, making the stock its 6th largest holding. Tandem Investment Advisors Inc. owned 0.16% of Brown & Brown worth $10,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Crow Point Partners LLC grew its holdings in Brown & Brown by 38.4% in the 3rd quarter. Crow Point Partners LLC now owns 8,885 shares of the financial services provider’s stock valued at $429,000 after buying an additional 2,467 shares during the period. BB&T Investment Services Inc. purchased a new stake in shares of Brown & Brown during the 2nd quarter worth about $434,000. Ameritas Investment Partners Inc. grew its holdings in shares of Brown & Brown by 1.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 34,420 shares of the financial services provider’s stock worth $1,482,000 after purchasing an additional 582 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of Brown & Brown during the 2nd quarter worth about $382,000. Finally, Rowland & Co. Investment Counsel ADV grew its holdings in shares of Brown & Brown by 4.1% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 4,465 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 175 shares during the period. Institutional investors own 72.04% of the company’s stock.
Several research firms recently commented on BRO. Keefe, Bruyette & Woods reissued a “hold” rating and set a $45.00 price target on shares of Brown & Brown in a research report on Monday, October 16th. Zacks Investment Research lowered Brown & Brown from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. BidaskClub raised Brown & Brown from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Wells Fargo & Company set a $45.00 price target on Brown & Brown and gave the stock a “hold” rating in a research report on Monday, October 16th. Finally, Barclays PLC upped their target price on Brown & Brown from $39.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 16th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $44.75.
Shares of Brown & Brown, Inc. (NYSE BRO) traded up 0.41% on Friday, reaching $49.58. The company had a trading volume of 229,840 shares. The firm has a market capitalization of $6.92 billion, a PE ratio of 26.08 and a beta of 0.79. The company’s 50-day moving average is $48.12 and its 200 day moving average is $44.61. Brown & Brown, Inc. has a 12 month low of $36.05 and a 12 month high of $50.24.
Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 16th. The financial services provider reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.04. Brown & Brown had a return on equity of 10.99% and a net margin of 14.66%. The company had revenue of $475.60 million during the quarter, compared to the consensus estimate of $475.13 million. During the same period last year, the business posted $0.50 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts forecast that Brown & Brown, Inc. will post $1.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Friday, October 27th will be given a $0.15 dividend. This is a boost from Brown & Brown’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, October 26th. This represents a $0.60 annualized dividend and a yield of 1.22%. Brown & Brown’s dividend payout ratio (DPR) is presently 28.57%.
In related news, EVP Anthony T. Strianese sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $44.59, for a total value of $445,900.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 16.98% of the stock is currently owned by company insiders.
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Brown & Brown Profile
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.
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