Brown & Brown, Inc. (NYSE:BRO) Holdings Trimmed by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in Brown & Brown, Inc. (NYSE:BRO) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 355,236 shares of the financial services provider’s stock after selling 1,600 shares during the quarter. New York State Teachers Retirement System owned approximately 0.13% of Brown & Brown worth $10,483,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc boosted its position in Brown & Brown by 2.2% during the third quarter. Vanguard Group Inc now owns 24,202,436 shares of the financial services provider’s stock worth $715,666,000 after purchasing an additional 525,399 shares during the period. BlackRock Inc. boosted its position in Brown & Brown by 4.0% during the fourth quarter. BlackRock Inc. now owns 21,351,938 shares of the financial services provider’s stock worth $588,460,000 after purchasing an additional 828,759 shares during the period. Clarkston Capital Partners LLC boosted its position in Brown & Brown by 1.0% during the first quarter. Clarkston Capital Partners LLC now owns 4,899,516 shares of the financial services provider’s stock worth $144,585,000 after purchasing an additional 47,381 shares during the period. APG Asset Management N.V. boosted its position in Brown & Brown by 39.5% during the fourth quarter. APG Asset Management N.V. now owns 4,501,200 shares of the financial services provider’s stock worth $108,519,000 after purchasing an additional 1,273,500 shares during the period. Finally, Fenimore Asset Management Inc. boosted its position in Brown & Brown by 5.3% during the first quarter. Fenimore Asset Management Inc. now owns 2,973,331 shares of the financial services provider’s stock worth $87,743,000 after purchasing an additional 149,028 shares during the period. 70.94% of the stock is currently owned by institutional investors.

BRO traded up $0.13 on Friday, reaching $32.82. The company had a trading volume of 644,316 shares, compared to its average volume of 1,013,632. The company has a market capitalization of $9.22 billion, a P/E ratio of 26.68, a P/E/G ratio of 2.43 and a beta of 0.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.93 and a quick ratio of 0.93. Brown & Brown, Inc. has a 52-week low of $25.72 and a 52-week high of $33.14.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, April 22nd. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The business had revenue of $617.50 million for the quarter, compared to the consensus estimate of $600.51 million. Brown & Brown had a net margin of 17.23% and a return on equity of 12.47%. Brown & Brown’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. On average, equities analysts anticipate that Brown & Brown, Inc. will post 1.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Wednesday, May 8th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Tuesday, May 7th. Brown & Brown’s dividend payout ratio is presently 26.02%.

A number of equities analysts have weighed in on the stock. SunTrust Banks increased their target price on shares of Brown & Brown to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Wells Fargo & Co reiterated a “hold” rating and set a $28.00 target price on shares of Brown & Brown in a research report on Sunday, April 21st. Finally, Zacks Investment Research raised shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Brown & Brown currently has a consensus rating of “Hold” and a consensus target price of $29.56.

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Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.

Further Reading: Reverse Stock Split

Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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