Brown & Brown, Inc. (NYSE:BRO) Position Trimmed by Voloridge Investment Management LLC

Voloridge Investment Management LLC trimmed its stake in Brown & Brown, Inc. (NYSE:BRO) by 40.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,093 shares of the financial services provider’s stock after selling 104,431 shares during the quarter. Voloridge Investment Management LLC owned 0.05% of Brown & Brown worth $15,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC purchased a new position in Brown & Brown in the fourth quarter valued at about $28,000. Johnson Financial Group Inc. grew its stake in shares of Brown & Brown by 534.1% in the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock valued at $29,000 after buying an additional 235 shares in the last quarter. Y.D. More Investments Ltd increased its holdings in Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after buying an additional 162 shares during the last quarter. R Squared Ltd bought a new position in Brown & Brown during the fourth quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. bought a new position in Brown & Brown during the fourth quarter valued at approximately $37,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BRO shares. UBS Group increased their price target on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 9th. Morgan Stanley reissued an “equal weight” rating and set a $128.00 target price on shares of Brown & Brown in a research report on Tuesday, March 25th. Edward Jones initiated coverage on Brown & Brown in a report on Wednesday, April 16th. They set a “buy” rating on the stock. Jefferies Financial Group upped their price target on Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Finally, Bank of America raised their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Brown & Brown currently has an average rating of “Hold” and an average target price of $116.85.

Brown & Brown Stock Performance

BRO opened at $110.83 on Friday. 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 stock’s 50 day moving average price is $115.55 and its two-hundred day moving average price is $111.21. The firm has a market capitalization of $31.76 billion, a P/E ratio of 32.03, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87. Brown & Brown, Inc. has a 12-month low of $85.97 and a 12-month high of $125.68.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the business posted $1.14 EPS. The company’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown’s dividend payout ratio is 16.71%.

Brown & Brown Company Profile

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.