WCM Investment Management LLC Has $5.59 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

WCM Investment Management LLC trimmed its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 20.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,489 shares of the financial services provider's stock after selling 11,551 shares during the period. WCM Investment Management LLC's holdings in Brown & Brown were worth $5,592,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Johnson Financial Group Inc. raised its position in shares of Brown & Brown by 534.1% in 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 period. Sunbelt Securities Inc. grew its stake in Brown & Brown by 581.8% in the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after buying an additional 256 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Brown & Brown in the 4th quarter valued at $37,000. Garde Capital Inc. bought a new position in Brown & Brown in the 1st quarter worth $46,000. Finally, EverSource Wealth Advisors LLC lifted 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 worth $50,000 after acquiring an additional 217 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BRO. Barclays raised their price target on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods lifted their price target on Brown & Brown from $100.00 to $102.00 and gave the stock an "underperform" rating in a research report on Friday, June 13th. Wells Fargo & Company reiterated an "overweight" rating and set a $127.00 price target (up from $125.00) on shares of Brown & Brown in a report on Thursday, June 12th. The Goldman Sachs Group downgraded shares of Brown & Brown from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $126.00 to $119.00 in a research note on Tuesday, May 13th. Finally, UBS Group upped their target price 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $118.85.

Brown & Brown Price Performance

NYSE:BRO traded up $0.07 during mid-day trading on Friday, hitting $107.88. The company's stock had a trading volume of 2,979,841 shares, compared to its average volume of 1,845,607. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average of $109.92 and a 200-day moving average of $111.16. The company has a market capitalization of $30.93 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 2.38 and a beta of 0.82. Brown & Brown, Inc. has a fifty-two week low of $89.25 and a fifty-two week high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly 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 net margin of 20.84% and a return on equity of 17.77%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the firm earned $1.14 EPS. Brown & Brown's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is currently 16.71%.

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.