Wealthcare Advisory Partners LLC Sells 112 Shares of Brown & Brown, Inc. (NYSE:BRO)

Wealthcare Advisory Partners LLC lowered its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,343 shares of the financial services provider’s stock after selling 112 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Brown & Brown were worth $2,892,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fermata Advisors LLC purchased a new position in shares of Brown & Brown during the 4th quarter valued at about $369,000. Peak Financial Advisors LLC purchased a new stake in Brown & Brown in the fourth quarter worth approximately $3,037,000. Radnor Capital Management LLC grew its position in Brown & Brown by 9.6% during the fourth quarter. Radnor Capital Management LLC now owns 5,690 shares of the financial services provider’s stock valued at $580,000 after acquiring an additional 500 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Brown & Brown by 46.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 29,746 shares of the financial services provider’s stock worth $3,035,000 after acquiring an additional 9,467 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of Brown & Brown by 2.9% in the 4th quarter. Park Avenue Securities LLC now owns 8,922 shares of the financial services provider’s stock worth $910,000 after acquiring an additional 252 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Argus assumed coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price on the stock. Jefferies Financial Group raised their price objective on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Bank of America boosted their target price on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods reduced their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Finally, Royal Bank of Canada boosted their price objective on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $112.08.

Brown & Brown Price Performance

BRO opened at $105.52 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market capitalization of $30.17 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 2.14 and a beta of 0.85. The stock’s 50 day moving average price is $106.32 and its 200-day moving average price is $103.17. Brown & Brown, Inc. has a 52-week low of $73.23 and a 52-week high of $114.15.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned $0.71 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts predict that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.57%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s payout ratio is presently 16.35%.

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.