Next Level Private LLC Has $463,000 Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Next Level Private LLC decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 9.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,514 shares of the financial services provider’s stock after selling 681 shares during the quarter. Next Level Private LLC’s holdings in Brown & Brown were worth $463,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BRO. Group One Trading L.P. acquired a new position in Brown & Brown in the 1st quarter valued at $201,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Brown & Brown by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,373 shares of the financial services provider’s stock valued at $2,267,000 after buying an additional 1,950 shares during the last quarter. Cibc World Market Inc. acquired a new position in Brown & Brown in the 1st quarter valued at $354,000. Vontobel Holding Ltd. grew its stake in Brown & Brown by 37.1% in the 1st quarter. Vontobel Holding Ltd. now owns 5,550 shares of the financial services provider’s stock valued at $404,000 after buying an additional 1,502 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Brown & Brown by 608.0% in the 1st quarter. Sei Investments Co. now owns 43,409 shares of the financial services provider’s stock valued at $3,135,000 after buying an additional 37,278 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Activity

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the sale, the chairman now owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.02% of the stock is currently owned by company insiders.

Brown & Brown Stock Performance

Shares of BRO stock opened at $87.31 on Thursday. The company’s fifty day simple moving average is $82.10 and its 200-day simple moving average is $75.37. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.58. The firm has a market cap of $24.91 billion, a PE ratio of 28.52, a P/E/G ratio of 2.89 and a beta of 0.78. Brown & Brown, Inc. has a 12 month low of $55.99 and a 12 month high of $87.84.

Brown & Brown (NYSE:BRO) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $1.03 billion for the quarter. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Equities research analysts expect that Brown & Brown, Inc. will post 3.29 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.60%. Brown & Brown’s payout ratio is presently 16.99%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BRO shares. The Goldman Sachs Group raised shares of Brown & Brown from a “neutral” rating to a “buy” rating and reduced their price target for the company from $84.00 to $83.00 in a report on Monday, January 8th. Wells Fargo & Company raised their price objective on shares of Brown & Brown from $72.00 to $81.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. Royal Bank of Canada increased their target price on shares of Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Brown & Brown from $70.00 to $75.00 and gave the stock an “underperform” rating in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and an average target price of $84.90.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.