DekaBank Deutsche Girozentrale Sells 8,508 Shares of Brown & Brown, Inc. (NYSE:BRO)

DekaBank Deutsche Girozentrale cut its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 251,839 shares of the financial services provider's stock after selling 8,508 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.09% of Brown & Brown worth $30,782,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC acquired a new stake in shares of Brown & Brown in the 1st quarter worth approximately $1,929,000. Fifth Third Bancorp grew its holdings in Brown & Brown by 7.1% during the 1st quarter. Fifth Third Bancorp now owns 6,807 shares of the financial services provider's stock valued at $847,000 after buying an additional 450 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Brown & Brown by 395.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider's stock valued at $3,489,000 after buying an additional 27,297 shares during the last quarter. Tandem Investment Advisors Inc. grew its holdings in 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 valued at $95,130,000 after buying an additional 18,677 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Brown & Brown by 56.8% during the 4th quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider's stock worth $19,365,000 after purchasing an additional 68,745 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. The Goldman Sachs Group lowered Brown & Brown from a "buy" rating to a "neutral" rating and cut their target price for the stock from $126.00 to $119.00 in a research report on Tuesday, May 13th. Wells Fargo & Company reiterated an "overweight" rating and issued a $127.00 price target (up from $125.00) on shares of Brown & Brown in a report on Thursday, June 12th. Keefe, Bruyette & Woods increased their price target on Brown & Brown from $102.00 to $104.00 and gave the company an "underperform" rating in a report on Wednesday. Edward Jones started coverage on Brown & Brown in a report on Wednesday, April 16th. They issued a "buy" rating for the company. Finally, Barclays lowered their price target on Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $118.23.

Brown & Brown Stock Down 1.0%

NYSE:BRO traded down $1.08 during trading hours on Friday, hitting $106.73. 2,415,776 shares of the stock traded hands, compared to its average volume of 1,890,293. The firm has a 50 day moving average price of $109.61 and a 200 day moving average price of $111.33. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. Brown & Brown, Inc. has a fifty-two week low of $92.11 and a fifty-two week high of $125.68. The firm has a market cap of $30.60 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.36 and a beta of 0.82.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The company's revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. Equities research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The company 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 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is 16.71%.

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.