Victory Capital Management Inc. Has $43.24 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Victory Capital Management Inc. lessened its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 41.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 608,030 shares of the financial services provider's stock after selling 422,254 shares during the period. Victory Capital Management Inc. owned about 0.21% of Brown & Brown worth $43,237,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BRO. Fortitude Family Office LLC bought a new stake in Brown & Brown during the 4th quarter valued at approximately $31,000. Park Place Capital Corp boosted its position in Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider's stock valued at $36,000 after buying an additional 318 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in Brown & Brown by 174.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 348 shares during the period. GPS Wealth Strategies Group LLC lifted its position in shares of Brown & Brown by 150.6% during the third quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider's stock valued at $41,000 after buying an additional 354 shares during the last quarter. Finally, Mendota Financial Group LLC acquired a new position in Brown & Brown during the 4th quarter valued at about $42,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

Shares of NYSE BRO traded up $0.71 during mid-day trading on Monday, reaching $84.21. The company's stock had a trading volume of 1,050,449 shares, compared to its average volume of 1,344,710. The stock has a 50-day moving average of $84.18 and a two-hundred day moving average of $77.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market capitalization of $24.02 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.28 and a beta of 0.79. Brown & Brown, Inc. has a 1-year low of $61.71 and a 1-year high of $87.99.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.07. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. Brown & Brown's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. On average, equities research analysts anticipate that Brown & Brown, Inc. will post 3.62 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.62%. The ex-dividend date is Friday, May 3rd. Brown & Brown's payout ratio is currently 16.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BRO shares. Royal Bank of Canada upped their target price on Brown & Brown from $87.00 to $95.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 20th. Wells Fargo & Company raised their target price on Brown & Brown from $84.00 to $85.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 24th. Citigroup upped their price target on Brown & Brown from $89.00 to $94.00 and gave the stock a "buy" rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $80.00 to $82.00 and gave the company an "underperform" rating in a report on Friday. Finally, UBS Group upped their target price on Brown & Brown from $75.00 to $81.00 and gave the stock a "neutral" rating in a research note on Monday, January 29th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $87.30.

Insider Activity

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the transaction, the chairman now directly owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 16.43% of the company's stock.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.