Mn Services Vermogensbeheer B.V. Sells 6,800 Shares of Brown & Brown, Inc. (NYSE:BRO)

Mn Services Vermogensbeheer B.V. decreased its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 7.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 87,600 shares of the financial services provider's stock after selling 6,800 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Brown & Brown were worth $10,897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BRO. Vontobel Holding Ltd. grew its stake in shares of Brown & Brown by 13.5% during the 4th quarter. Vontobel Holding Ltd. now owns 5,112 shares of the financial services provider's stock worth $522,000 after acquiring an additional 607 shares during the period. Bank Pictet & Cie Europe AG bought a new position in shares of Brown & Brown during the 4th quarter worth $907,000. Sheaff Brock Investment Advisors LLC grew its stake in shares of Brown & Brown by 8.8% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 4,005 shares of the financial services provider's stock worth $409,000 after acquiring an additional 324 shares during the period. Financiere des Professionnels Fonds d investissement inc. bought a new position in Brown & Brown in the 4th quarter worth about $903,000. Finally, Principal Financial Group Inc. boosted its stake in Brown & Brown by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock worth $1,316,259,000 after purchasing an additional 94,121 shares during the period. Institutional investors own 71.01% of the company's stock.

Brown & Brown Price Performance

BRO opened at $107.06 on Tuesday. The stock's 50 day simple moving average is $112.27 and its 200 day simple moving average is $111.00. 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 1 year low of $88.31 and a 1 year high of $125.68. The firm has a market cap of $30.69 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 2.93 and a beta of 0.84.

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

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were given a dividend of $0.15 per share. The ex-dividend date was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.56%. Brown & Brown's payout ratio is 16.71%.

Analyst Ratings Changes

Several research analysts have commented on BRO shares. Morgan Stanley restated an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. Keefe, Bruyette & Woods raised their target price on Brown & Brown from $100.00 to $102.00 and gave the stock an "underperform" rating in a research note on Friday. UBS Group raised their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 9th. Jefferies Financial Group raised their target price on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Finally, Barclays raised their target price on Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $118.85.

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.

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