Brown & Brown, Inc. (NYSE:BRO) Stake Lessened by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,102 shares of the financial services provider's stock after selling 7,435 shares during the quarter. Nisa Investment Advisors LLC's holdings in Brown & Brown were worth $8,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Phillips Wealth Planners LLC grew its position in shares of Brown & Brown by 3.4% during the first quarter. Phillips Wealth Planners LLC now owns 2,659 shares of the financial services provider's stock worth $316,000 after buying an additional 88 shares in the last quarter. Gateway Investment Advisers LLC grew its position in shares of Brown & Brown by 2.3% during the first quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider's stock worth $536,000 after buying an additional 97 shares in the last quarter. Blue Trust Inc. grew its position in shares of Brown & Brown by 11.7% during the first quarter. Blue Trust Inc. now owns 1,002 shares of the financial services provider's stock worth $125,000 after buying an additional 105 shares in the last quarter. Lido Advisors LLC lifted its stake in Brown & Brown by 2.6% during the fourth quarter. Lido Advisors LLC now owns 4,690 shares of the financial services provider's stock worth $479,000 after purchasing an additional 120 shares during the last quarter. Finally, Transcend Capital Advisors LLC lifted its stake in Brown & Brown by 6.8% during the first quarter. Transcend Capital Advisors LLC now owns 2,164 shares of the financial services provider's stock worth $269,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Stock Performance

NYSE BRO traded down $1.08 on Friday, hitting $106.73. The stock had a trading volume of 2,415,776 shares, compared to its average volume of 1,890,293. Brown & Brown, Inc. has a one year low of $92.11 and a one year high of $125.68. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.55. The stock has a market cap of $30.60 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 2.36 and a beta of 0.82. The company's 50-day moving average is $109.61 and its two-hundred day moving average is $111.33.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the company posted $1.14 EPS. Brown & Brown's revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on BRO shares. Edward Jones started coverage on Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating on the stock. UBS Group raised their price objective on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 9th. BMO Capital Markets restated an "outperform" rating and set a $122.00 price objective (up from $116.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $102.00 to $104.00 and gave the stock an "underperform" rating in a research note on Wednesday. Finally, Barclays reduced their price objective on Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Brown & Brown has a consensus rating of "Hold" and an average price target of $118.23.

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.