Brown & Brown, Inc. (NYSE:BRO) is Lountzis Asset Management LLC's 7th Largest Position

Lountzis Asset Management LLC lowered its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 109,081 shares of the financial services provider's stock after selling 11,821 shares during the period. Brown & Brown comprises about 4.7% of Lountzis Asset Management LLC's investment portfolio, making the stock its 7th biggest position. Lountzis Asset Management LLC's holdings in Brown & Brown were worth $12,531,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Brown & Brown in the 4th quarter worth $313,412,000. First Trust Advisors LP grew its holdings in Brown & Brown by 626.6% in the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock worth $239,751,000 after acquiring an additional 2,026,589 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in Brown & Brown in the 4th quarter worth $198,031,000. Vanguard Group Inc. grew its holdings in Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after acquiring an additional 1,335,964 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Brown & Brown by 13,974.9% in the 1st quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider's stock worth $138,427,000 after acquiring an additional 1,104,852 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Down 0.4%

NYSE BRO traded down $0.39 during trading hours on Thursday, reaching $107.74. 3,007,515 shares of the company's stock traded hands, compared to its average volume of 1,883,462. Brown & Brown, Inc. has a 52-week low of $90.94 and a 52-week high of $125.68. The firm has a market cap of $30.89 billion, a PE ratio of 30.01, a PEG ratio of 2.37 and a beta of 0.82. The firm has a 50-day simple moving average of $109.68 and a 200 day simple moving average of $111.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.52 and a quick ratio of 2.52.

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

Brown & Brown Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reissued an "overweight" rating and issued a $127.00 price target (up previously from $125.00) on shares of Brown & Brown in a report on Thursday, June 12th. Barclays dropped their target price on shares of Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating for the company in a research report on Monday. Keefe, Bruyette & Woods raised their target price on shares of Brown & Brown from $102.00 to $104.00 and gave the stock an "underperform" rating in a research report on Wednesday. Edward Jones started coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating for the company. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of "Hold" and an average price target of $118.23.

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.