Elser Financial Planning Inc Cuts Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Elser Financial Planning Inc decreased its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 17.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 29,560 shares of the financial services provider's stock after selling 6,275 shares during the quarter. Brown & Brown accounts for approximately 5.1% of Elser Financial Planning Inc's holdings, making the stock its 4th biggest holding. Elser Financial Planning Inc's holdings in Brown & Brown were worth $3,677,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Brown & Brown by 11.7% during the first quarter. Blue Trust Inc. now owns 1,002 shares of the financial services provider's stock worth $125,000 after buying an additional 105 shares in the last quarter. Silver Oak Securities Incorporated bought a new position in Brown & Brown in the 1st quarter valued at $646,000. Global X Japan Co. Ltd. boosted its stake in Brown & Brown by 15.6% in the first quarter. Global X Japan Co. Ltd. now owns 5,712 shares of the financial services provider's stock worth $711,000 after purchasing an additional 771 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Brown & Brown by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 27,803 shares of the financial services provider's stock worth $3,458,000 after purchasing an additional 745 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its stake in shares of Brown & Brown by 13.4% in the first quarter. CWA Asset Management Group LLC now owns 3,307 shares of the financial services provider's stock valued at $411,000 after buying an additional 391 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Trading Up 0.0%

Shares of Brown & Brown stock traded up $0.03 during trading on Tuesday, hitting $110.95. 3,752,353 shares of the company were exchanged, compared to its average volume of 1,707,332. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.52 and a quick ratio of 2.52. The firm has a market capitalization of $31.81 billion, a P/E ratio of 30.90, a price-to-earnings-growth ratio of 2.38 and a beta of 0.84. The firm's fifty day moving average price is $111.36 and its 200 day moving average price is $110.94. Brown & Brown, Inc. has a 1-year low of $88.31 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.40 billion for 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 firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. As a group, sell-side analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, May 12th. Brown & Brown's payout ratio is presently 16.71%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BMO Capital Markets reiterated an "outperform" rating and set a $122.00 price target (up previously from $116.00) on shares of Brown & Brown in a research report on Thursday, June 12th. Barclays boosted their target price on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. The Goldman Sachs Group cut shares of Brown & Brown from a "buy" rating to a "neutral" rating and decreased their price target for the company from $126.00 to $119.00 in a research note on Tuesday, May 13th. Morgan Stanley restated an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Finally, Edward Jones initiated coverage on Brown & Brown in a report on Wednesday, April 16th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.