Wellington Management Group LLP Sells 6,801 Shares of Brown & Brown, Inc. (NYSE:BRO)

Wellington Management Group LLP trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 140,296 shares of the financial services provider's stock after selling 6,801 shares during the quarter. Wellington Management Group LLP's holdings in Brown & Brown were worth $14,313,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Brown & Brown by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after acquiring an additional 1,335,964 shares during the period. Principal Financial Group Inc. lifted 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 valued at $1,316,259,000 after acquiring an additional 94,121 shares in the last quarter. Norges Bank acquired a new position in Brown & Brown during the 4th quarter worth approximately $313,412,000. Barclays PLC raised 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 valued at $255,537,000 after purchasing an additional 371,980 shares during the last quarter. Finally, Madison Investment Advisors LLC bought a new stake in shares of Brown & Brown in the fourth quarter worth $198,031,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Up 1.5 %

Brown & Brown stock traded up $1.74 during trading hours on Monday, reaching $120.60. 185,968 shares of the company's stock were exchanged, compared to its average volume of 1,424,724. The firm has a market capitalization of $34.48 billion, a PE ratio of 34.86, a PEG ratio of 2.93 and a beta of 0.75. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm's 50 day simple moving average is $116.39 and its 200 day simple moving average is $109.63. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.50%. Brown & Brown's dividend payout ratio is currently 17.34%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BRO shares. Morgan Stanley reiterated an "equal weight" rating and issued a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. Jefferies Financial Group increased their price target on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research report on Friday. Bank of America boosted their target price on shares of 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 shares of Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Brown & Brown has a consensus rating of "Hold" and a consensus target price of $115.83.

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.