Public Employees Retirement System of Ohio Sells 4,099 Shares of Brown & Brown, Inc. (NYSE:BRO)

Public Employees Retirement System of Ohio cut its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,666 shares of the financial services provider's stock after selling 4,099 shares during the period. Public Employees Retirement System of Ohio's holdings in Brown & Brown were worth $9,352,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BRO. Barclays PLC grew its holdings in shares of Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock worth $255,537,000 after purchasing an additional 371,980 shares during the last quarter. Merit Financial Group LLC bought a new stake in Brown & Brown during the 4th quarter valued at $203,000. Mutual Advisors LLC boosted its position in Brown & Brown by 13.1% during the 4th quarter. Mutual Advisors LLC now owns 3,517 shares of the financial services provider's stock valued at $373,000 after buying an additional 407 shares during the period. Kingswood Wealth Advisors LLC bought a new stake in Brown & Brown in the 4th quarter worth $306,000. Finally, Cathy Pareto & Associates Inc. bought a new stake in Brown & Brown in the 4th quarter worth $1,302,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on BRO shares. UBS Group upped their price objective 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. Bank of America increased their price objective on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Barclays boosted their target price on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods cut their price target on shares of Brown & Brown from $102.00 to $100.00 and set an "underperform" rating on the stock in a report on Monday, May 5th. Finally, Edward Jones assumed coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating for the company. One investment 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, the stock currently has a consensus rating of "Hold" and a consensus target price of $116.85.

Brown & Brown Stock Down 1.1%

Shares of BRO stock traded down $1.23 during trading hours on Wednesday, hitting $110.85. 1,268,583 shares of the company's stock traded hands, compared to its average volume of 1,484,455. The stock's fifty day simple moving average is $115.06 and its two-hundred day simple moving average is $111.21. Brown & Brown, Inc. has a 12-month low of $85.97 and a 12-month high of $125.68. The stock has a market cap of $31.77 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 2.93 and a beta of 0.87. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.

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 analysts' consensus estimates of $1.30 by ($0.01). The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $1.14 EPS. On average, analysts expect 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. Stockholders of record on Monday, May 12th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's dividend payout ratio is presently 16.71%.

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.