California State Teachers Retirement System Cuts Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

California State Teachers Retirement System reduced its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 347,279 shares of the financial services provider's stock after selling 11,773 shares during the quarter. California State Teachers Retirement System owned 0.12% of Brown & Brown worth $35,429,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BRO. 111 Capital purchased a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $208,000. Wealth Enhancement Advisory Services LLC boosted its stake in Brown & Brown by 206.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 42,456 shares of the financial services provider's stock worth $4,331,000 after purchasing an additional 28,603 shares during the period. Wood Tarver Financial Group LLC acquired a new stake in Brown & Brown during the 4th quarter worth $202,000. Siemens Fonds Invest GmbH lifted its stake in shares of Brown & Brown by 6.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 9,138 shares of the financial services provider's stock worth $932,000 after acquiring an additional 567 shares during the period. Finally, Cim LLC lifted its stake in shares of Brown & Brown by 1.1% in the 4th quarter. Cim LLC now owns 14,436 shares of the financial services provider's stock worth $1,473,000 after acquiring an additional 159 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Up 1.0%

NYSE:BRO traded up $1.12 during trading hours on Friday, reaching $112.82. 2,048,769 shares of the stock were exchanged, compared to its average volume of 1,487,397. The stock has a market cap of $32.34 billion, a PE ratio of 32.61, a PEG ratio of 2.93 and a beta of 0.87. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a twelve month low of $87.88 and a twelve month high of $125.68. The firm has a 50 day moving average of $114.70 and a 200 day moving average of $111.21.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 EPS. On average, equities analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.53%. Brown & Brown's dividend payout ratio (DPR) is currently 16.71%.

Analysts Set New Price Targets

Several equities analysts have weighed in on BRO shares. Barclays raised their target price on shares of Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Edward Jones assumed coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They set a "buy" rating on the stock. Morgan Stanley reissued an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a research report on Tuesday, March 25th. UBS Group boosted their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group lowered shares of Brown & Brown from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $126.00 to $119.00 in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Brown & Brown has an average rating of "Hold" and a consensus target price of $116.85.

Brown & Brown Company 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.