MassMutual Private Wealth & Trust FSB Sells 142 Shares of Brown & Brown, Inc. (NYSE:BRO)

MassMutual Private Wealth & Trust FSB trimmed its position in Brown & Brown, Inc. (NYSE:BRO) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 710 shares of the financial services provider’s stock after selling 142 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Brown & Brown were worth $72,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mechanics Bank Trust Department acquired a new stake in shares of Brown & Brown in the 4th quarter worth $206,000. HB Wealth Management LLC raised its stake in Brown & Brown by 18.5% in the fourth quarter. HB Wealth Management LLC now owns 6,152 shares of the financial services provider’s stock valued at $628,000 after buying an additional 961 shares during the last quarter. Integrated Investment Consultants LLC boosted its holdings in Brown & Brown by 7.5% in the fourth quarter. Integrated Investment Consultants LLC now owns 8,769 shares of the financial services provider’s stock worth $895,000 after acquiring an additional 610 shares in the last quarter. Spring Capital Management LLC boosted its holdings in Brown & Brown by 7.4% in the fourth quarter. Spring Capital Management LLC now owns 96,742 shares of the financial services provider’s stock worth $9,870,000 after acquiring an additional 6,672 shares in the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of Brown & Brown by 75.5% during the fourth quarter. Brooklyn Investment Group now owns 444 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 191 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on BRO shares. Keefe, Bruyette & Woods decreased their price objective 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. Bank of America lifted their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Barclays raised their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Finally, Royal Bank of Canada raised their price objective on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $112.08.

Brown & Brown Trading Up 0.0 %

BRO stock opened at $105.21 on Friday. The firm has a market cap of $30.08 billion, a P/E ratio of 28.67, a PEG ratio of 2.12 and a beta of 0.85. Brown & Brown, Inc. has a 52-week low of $75.79 and a 52-week high of $114.15. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The company’s 50-day simple moving average is $105.92 and its 200-day simple moving average is $103.59.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, equities analysts forecast that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.57%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.35%.

About Brown & Brown

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.