Canada Pension Plan Investment Board Sells 94,765 Shares of Brown & Brown, Inc. (NYSE:BRO)

Canada Pension Plan Investment Board lowered its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 99.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 345 shares of the financial services provider's stock after selling 94,765 shares during the quarter. Canada Pension Plan Investment Board's holdings in Brown & Brown were worth $35,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BRO. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Brown & Brown in the fourth quarter worth approximately $28,000. Y.D. More Investments Ltd boosted its stake in shares of Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after acquiring an additional 162 shares during the last quarter. R Squared Ltd bought a new stake in shares of Brown & Brown during the 4th quarter valued at $31,000. SBI Securities Co. Ltd. purchased a new stake in shares of Brown & Brown in the 4th quarter worth $37,000. Finally, Versant Capital Management Inc raised its holdings in Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock worth $42,000 after purchasing an additional 234 shares during the period. Institutional investors own 71.01% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on BRO shares. Morgan Stanley restated an "equal weight" rating and issued a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. Royal Bank of Canada increased their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Barclays lifted their price target on shares of Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Edward Jones began coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating for the company. Finally, Bank of America raised their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $116.83.

Brown & Brown Price Performance

Shares of NYSE:BRO traded up $1.38 during mid-day trading on Friday, reaching $110.40. The stock had a trading volume of 469,889 shares, compared to its average volume of 1,815,152. The business's 50 day moving average price is $117.91 and its 200 day moving average price is $110.62. Brown & Brown, Inc. has a 1 year low of $81.79 and a 1 year high of $125.68. The company has a market cap of $31.64 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The firm's revenue was up 11.6% compared to the same quarter last year. Research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th will be issued a $0.15 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. Brown & Brown's dividend payout ratio (DPR) is presently 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.