Brown & Brown, Inc. (NYSE:BRO) Stock Holdings Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in Brown & Brown, Inc. (NYSE:BRO) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,186 shares of the financial services provider’s stock after selling 3,480 shares during the period. PNC Financial Services Group Inc.’s holdings in Brown & Brown were worth $4,406,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BRO. Principal Financial Group Inc. boosted its position 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 buying an additional 94,121 shares during the last quarter. Barclays PLC boosted its position in shares of Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after buying an additional 371,980 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Brown & Brown by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock valued at $138,394,000 after acquiring an additional 40,881 shares in the last quarter. FMR LLC lifted its stake in Brown & Brown by 42.4% in the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after purchasing an additional 330,661 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its stake in Brown & Brown by 11,337.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider’s stock valued at $1,109,000 after buying an additional 1,099,199 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Up 0.5 %

BRO stock opened at $117.88 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $121.25. The firm has a market capitalization of $33.71 billion, a PE ratio of 34.07, a P/E/G ratio of 2.93 and a beta of 0.85. The company’s 50 day simple moving average is $109.11 and its 200-day simple moving average is $106.96.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.51%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is 17.34%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Morgan Stanley started coverage on Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target for the company. Bank of America lifted their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods reduced their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company increased their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $113.17.

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.