Crossmark Global Holdings Inc. Has $810,000 Holdings in Brown & Brown, Inc. (BRO)

Crossmark Global Holdings Inc. decreased its stake in Brown & Brown, Inc. (NYSE:BRO) by 3.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 27,456 shares of the financial services provider’s stock after selling 940 shares during the period. Crossmark Global Holdings Inc.’s holdings in Brown & Brown were worth $810,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc grew its stake in Brown & Brown by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 24,202,436 shares of the financial services provider’s stock valued at $715,666,000 after buying an additional 525,399 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Brown & Brown by 1.9% in the 4th quarter. State of Alaska Department of Revenue now owns 24,886 shares of the financial services provider’s stock valued at $685,000 after buying an additional 464 shares during the last quarter. CX Institutional acquired a new position in Brown & Brown in the 4th quarter valued at $474,000. BTIM Corp. grew its stake in Brown & Brown by 6.9% in the 4th quarter. BTIM Corp. now owns 444,085 shares of the financial services provider’s stock valued at $12,239,000 after buying an additional 28,704 shares during the last quarter. Finally, BB&T Corp grew its stake in Brown & Brown by 3.1% in the 4th quarter. BB&T Corp now owns 124,092 shares of the financial services provider’s stock valued at $3,420,000 after buying an additional 3,675 shares during the last quarter. Hedge funds and other institutional investors own 71.07% of the company’s stock.

Shares of Brown & Brown stock opened at $31.36 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.46. Brown & Brown, Inc. has a fifty-two week low of $25.72 and a fifty-two week high of $32.54. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 25.50, a P/E/G ratio of 2.31 and a beta of 0.75.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, April 22nd. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Brown & Brown had a net margin of 17.23% and a return on equity of 12.47%. The firm had revenue of $617.50 million during the quarter, compared to the consensus estimate of $600.51 million. During the same period in the prior year, the firm earned $0.33 EPS. The business’s revenue was up 23.4% on a year-over-year basis. On average, equities research analysts expect that Brown & Brown, Inc. will post 1.36 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Wednesday, May 8th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Tuesday, May 7th. Brown & Brown’s dividend payout ratio (DPR) is presently 26.02%.

In other Brown & Brown news, EVP Robert W. Lloyd sold 10,601 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $29.29, for a total value of $310,503.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony T. Strianese sold 35,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $29.17, for a total transaction of $1,020,950.00. The disclosure for this sale can be found here. 16.69% of the stock is owned by corporate insiders.

BRO has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Brown & Brown from a “hold” rating to a “sell” rating in a research note on Tuesday, February 26th. Wells Fargo & Co reiterated a “hold” rating and issued a $28.00 target price on shares of Brown & Brown in a research note on Sunday, April 21st. Finally, SunTrust Banks raised their target price on shares of Brown & Brown to $36.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, six have assigned 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 price target of $29.56.

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Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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