Brown & Brown, Inc. $BRO Holdings Lowered by Yousif Capital Management LLC

Key Points

• Yousif Capital Management LLC reduced its stake in Brown & Brown, Inc. by 6.1%, now holding 107,758 shares valued at approximately $11.95 million after selling 7,028 shares.
• Several institutional investors made changes to their positions in Brown & Brown, including GW&K Investment Management increasing its stake by 104.4% during the first quarter.
• Brown & Brown recently announced a quarterly dividend of $0.15 per share, representing an annualized yield of 0.6% and a payout ratio of 17.29%.

Yousif Capital Management LLC trimmed its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,758 shares of the financial services provider's stock after selling 7,028 shares during the quarter. Yousif Capital Management LLC's holdings in Brown & Brown were worth $11,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GW&K Investment Management LLC raised its position in shares of Brown & Brown by 104.4% during the 1st quarter. GW&K Investment Management LLC now owns 419 shares of the financial services provider's stock worth $52,000 after buying an additional 214 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Brown & Brown by 7.1% during the 1st quarter. Fifth Third Bancorp now owns 6,807 shares of the financial services provider's stock worth $847,000 after buying an additional 450 shares in the last quarter. Tandem Investment Advisors Inc. raised its position in shares of Brown & Brown by 2.5% during the 1st quarter. Tandem Investment Advisors Inc. now owns 764,709 shares of the financial services provider's stock worth $95,130,000 after buying an additional 18,677 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Brown & Brown during the 1st quarter worth about $3,043,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Brown & Brown by 22.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,603 shares of the financial services provider's stock worth $2,314,000 after buying an additional 3,351 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Bronislaw Edmund Masojada acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average cost of $91.44 per share, with a total value of $91,440.00. Following the completion of the transaction, the director owned 5,000 shares of the company's stock, valued at approximately $457,200. This trade represents a 25.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul J. Krump acquired 2,678 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $93.31 per share, for a total transaction of $249,884.18. Following the completion of the transaction, the director directly owned 5,353 shares of the company's stock, valued at $499,488.43. This represents a 100.11% increase in their position. The disclosure for this purchase can be found here. Insiders own 15.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BRO shares. Argus reiterated a "hold" rating on shares of Brown & Brown in a report on Thursday, July 31st. BMO Capital Markets dropped their target price on shares of Brown & Brown from $122.00 to $106.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Citigroup started coverage on shares of Brown & Brown in a report on Wednesday, August 13th. They issued a "buy" rating and a $112.00 target price on the stock. Wall Street Zen upgraded shares of Brown & Brown from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Finally, Morgan Stanley dropped their target price on shares of Brown & Brown from $105.00 to $100.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 7th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $109.92.

Brown & Brown Stock Performance

Brown & Brown stock opened at $94.50 on Tuesday. The firm's 50 day simple moving average is $94.37 and its 200-day simple moving average is $104.56. The company has a market cap of $31.17 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 2.17 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.72 and a quick ratio of 6.72. Brown & Brown, Inc. has a fifty-two week low of $89.99 and a fifty-two week high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last released its earnings results on Monday, July 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The firm's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.93 earnings per share. As a group, equities research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 13th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. Brown & Brown's payout ratio is presently 17.29%.

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.

Want to see what other hedge funds are holding BRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brown & Brown, Inc. (NYSE:BRO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.