Brown & Brown, Inc. (NYSE:BRO) Shares Sold by KBC Group NV

KBC Group NV cut its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 9.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,513 shares of the financial services provider's stock after selling 3,481 shares during the period. KBC Group NV's holdings in Brown & Brown were worth $4,293,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Johnson Financial Group Inc. boosted its holdings in Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 235 shares during the period. Sunbelt Securities Inc. boosted its stake in shares of 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 period. SBI Securities Co. Ltd. bought a new position in shares of Brown & Brown in the fourth quarter worth about $37,000. Garde Capital Inc. purchased a new position in Brown & Brown in the 1st quarter worth about $46,000. Finally, EverSource Wealth Advisors LLC raised its position in Brown & Brown by 79.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Wall Street Analyst Weigh In

BRO has been the topic of a number of recent analyst reports. Wells Fargo & Company restated 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. Morgan Stanley restated an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. Barclays lifted 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. UBS Group upped their price target 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, BMO Capital Markets reaffirmed an "outperform" rating and issued a $122.00 price target (up previously from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $118.85.

Brown & Brown Stock Performance

Shares of Brown & Brown stock traded up $0.07 during trading on Friday, hitting $107.88. 2,979,841 shares of the company's stock were exchanged, compared to its average volume of 1,849,714. Brown & Brown, Inc. has a 52-week low of $89.92 and a 52-week high of $125.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 2.52. The stock has a market capitalization of $30.93 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.38 and a beta of 0.82. The business has a 50-day simple moving average of $109.92 and a 200-day simple moving average of $111.29.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share 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 company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter in the previous year, the business posted $1.14 EPS. The business's quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued a $0.15 dividend. 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 payout ratio is presently 16.71%.

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.