Keybank National Association OH Sells 2,796 Shares of Brown & Brown, Inc. (NYSE:BRO)

Keybank National Association OH decreased its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 14.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,124 shares of the financial services provider's stock after selling 2,796 shares during the period. Keybank National Association OH's holdings in Brown & Brown were worth $2,130,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Johnson Financial Group Inc. increased its position in Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after purchasing an additional 235 shares in the last quarter. Sunbelt Securities Inc. increased its position 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 worth $31,000 after acquiring an additional 256 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Brown & Brown in the 4th quarter valued at $37,000. Garde Capital Inc. acquired a new position in shares of Brown & Brown during the 1st quarter valued at $46,000. Finally, EverSource Wealth Advisors LLC boosted its position in Brown & Brown by 79.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider's stock worth $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 Trading Up 0.1%

BRO traded up $0.07 during trading on Friday, reaching $107.88. 2,979,841 shares of the company's stock were exchanged, compared to its average volume of 1,845,607. The company's fifty day moving average price is $109.92 and its 200-day moving average price is $111.16. The firm has a market capitalization of $30.93 billion, a PE ratio of 30.05, a P/E/G ratio of 2.38 and a beta of 0.82. Brown & Brown, Inc. has a fifty-two week low of $89.25 and a fifty-two week high of $125.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 2.52.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The business's revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. As a group, equities analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

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

Wall Street Analyst Weigh In

BRO has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed an "outperform" rating and set a $122.00 price target (up from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. Keefe, Bruyette & Woods raised their target price on Brown & Brown from $100.00 to $102.00 and gave the company an "underperform" rating in a research note on Friday, June 13th. UBS Group upped their target price on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, April 9th. Jefferies Financial Group lifted their price target on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Finally, Edward Jones initiated coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They issued a "buy" rating for the company. One investment 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 company presently has a consensus rating of "Hold" and a consensus price target of $118.85.

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.