Avanza Fonder AB Sells 4,804 Shares of Brown & Brown, Inc. (NYSE:BRO)

Avanza Fonder AB lessened its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 23.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,275 shares of the financial services provider's stock after selling 4,804 shares during the period. Avanza Fonder AB's holdings in Brown & Brown were worth $1,898,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Brown & Brown during the fourth quarter worth approximately $28,000. Johnson Financial Group Inc. boosted its stake in shares of Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 235 shares during the period. Sunbelt Securities Inc. boosted its stake in shares of Brown & Brown by 581.8% in the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 256 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Brown & Brown in the fourth quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Brown & Brown by 79.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 217 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Stock Down 0.2%

Shares of NYSE BRO traded down $0.17 during trading hours on Friday, hitting $106.63. The company had a trading volume of 7,837,665 shares, compared to its average volume of 1,645,128. The stock has a market capitalization of $30.56 billion, a P/E ratio of 30.82, a price-to-earnings-growth ratio of 2.93 and a beta of 0.84. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 1-year low of $88.31 and a 1-year high of $125.68. The firm's 50 day moving average is $112.38 and its 200-day moving average is $111.05.

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

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.56%. The ex-dividend date was Monday, May 12th. Brown & Brown's dividend payout ratio is 16.71%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BRO shares. Wells Fargo & Company increased their target price on shares of Brown & Brown from $125.00 to $127.00 and gave the stock an "overweight" rating in a report on Thursday. Edward Jones initiated coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They set a "buy" rating for the company. UBS Group upped their price objective on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, April 9th. Barclays increased their price target on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. Finally, Jefferies Financial Group lifted their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $118.85.

Brown & Brown 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.