Select Equity Group L.P. Has $814.01 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Select Equity Group L.P. lowered its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,978,907 shares of the financial services provider's stock after selling 1,594,373 shares during the quarter. Brown & Brown accounts for approximately 3.2% of Select Equity Group L.P.'s investment portfolio, making the stock its 7th largest position. Select Equity Group L.P. owned approximately 2.79% of Brown & Brown worth $814,008,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Sherbrooke Park Advisers LLC purchased a new stake in Brown & Brown in the 4th quarter worth about $474,000. Royal Bank of Canada lifted its stake in Brown & Brown by 2.0% in the 4th quarter. Royal Bank of Canada now owns 2,882,426 shares of the financial services provider's stock worth $294,065,000 after acquiring an additional 56,033 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in Brown & Brown by 4.3% in the 4th quarter. Rafferty Asset Management LLC now owns 83,738 shares of the financial services provider's stock worth $8,543,000 after acquiring an additional 3,466 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Brown & Brown by 10.5% in the 4th quarter. Point72 Asset Management L.P. now owns 493,658 shares of the financial services provider's stock worth $50,363,000 after acquiring an additional 47,003 shares in the last quarter. Finally, Port Capital LLC lifted its stake in Brown & Brown by 1.0% in the 4th quarter. Port Capital LLC now owns 240,332 shares of the financial services provider's stock worth $24,519,000 after acquiring an additional 2,423 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Performance

BRO traded up $0.50 during midday trading on Tuesday, reaching $112.50. The company's stock had a trading volume of 1,928,266 shares, compared to its average volume of 1,478,683. The stock has a market cap of $32.24 billion, a P/E ratio of 32.51, a PEG ratio of 2.93 and a beta of 0.87. The company has a fifty day simple moving average of $116.05 and a 200 day simple moving average of $111.15. 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, Inc. has a twelve month low of $85.97 and a twelve month high of $125.68.

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

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.53%. Brown & Brown's dividend payout ratio is currently 16.71%.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of recent research reports. Keefe, Bruyette & Woods cut their price target on Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company raised their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Royal Bank of Canada raised their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Edward Jones initiated coverage on Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating for the company. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Brown & Brown currently has a consensus rating of "Hold" and an average target price of $116.85.

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.