Congress Asset Management Co. Has $138.17 Million Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Congress Asset Management Co. decreased its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 12.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,110,721 shares of the financial services provider's stock after selling 164,163 shares during the period. Brown & Brown accounts for approximately 1.0% of Congress Asset Management Co.'s portfolio, making the stock its 25th biggest position. Congress Asset Management Co. owned about 0.39% of Brown & Brown worth $138,174,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Brown & Brown during the fourth quarter valued at $28,000. Johnson Financial Group Inc. boosted its position in Brown & Brown by 534.1% during the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 235 shares during the last quarter. Y.D. More Investments Ltd boosted its position in Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 162 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Brown & Brown by 581.8% during the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Brown & Brown during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Price Performance

NYSE BRO opened at $110.65 on Friday. Brown & Brown, Inc. has a twelve month low of $88.31 and a twelve month high of $125.68. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market capitalization of $31.71 billion, a PE ratio of 31.98, a P/E/G ratio of 2.93 and a beta of 0.84. The stock has a 50-day simple moving average of $113.53 and a 200 day simple moving average of $111.26.

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). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the firm posted $1.14 EPS. Brown & Brown's revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts anticipate 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. Investors of record on Monday, May 12th were paid 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 0.54%. Brown & Brown's dividend payout ratio is 16.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BRO. Morgan Stanley reiterated an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. The Goldman Sachs Group downgraded Brown & Brown from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $126.00 to $119.00 in a research note on Tuesday, May 13th. Edward Jones began coverage on Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating for the company. Keefe, Bruyette & Woods decreased their price target on Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a research note on Monday, May 5th. Finally, UBS Group upped their price target on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $118.25.

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.

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