Robeco Institutional Asset Management B.V. Has $14.39 Million Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Robeco Institutional Asset Management B.V. cut its holdings in Brown & Brown, Inc. (NYSE:BRO – Get Rating) by 33.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 237,894 shares of the financial services provider’s stock after selling 120,440 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.08% of Brown & Brown worth $14,388,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp lifted its position in shares of Brown & Brown by 0.5% during the 3rd quarter. State Street Corp now owns 11,048,300 shares of the financial services provider’s stock valued at $668,201,000 after acquiring an additional 52,848 shares during the period. Invesco Ltd. boosted its position in shares of Brown & Brown by 9.7% during the 1st quarter. Invesco Ltd. now owns 3,207,698 shares of the financial services provider’s stock worth $231,821,000 after purchasing an additional 284,786 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Brown & Brown by 658.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,975,944 shares of the financial services provider’s stock valued at $173,617,000 after buying an additional 2,583,481 shares during the period. ProShare Advisors LLC increased its position in Brown & Brown by 3.9% in the 3rd quarter. ProShare Advisors LLC now owns 2,595,652 shares of the financial services provider’s stock valued at $156,985,000 after buying an additional 98,476 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Brown & Brown by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,683,849 shares of the financial services provider’s stock valued at $121,692,000 after buying an additional 42,899 shares in the last quarter. 69.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Lawrence L. Gellerstedt III bought 3,400 shares of Brown & Brown stock in a transaction dated Friday, February 10th. The stock was purchased at an average cost of $57.92 per share, with a total value of $196,928.00. Following the transaction, the director now directly owns 16,284 shares of the company’s stock, valued at $943,169.28. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 17.02% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $53.80 on Friday. The company has a market capitalization of $15.30 billion, a PE ratio of 22.80 and a beta of 0.75. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average price is $57.89 and its 200-day moving average price is $58.83. Brown & Brown, Inc. has a twelve month low of $52.82 and a twelve month high of $74.00.

Brown & Brown (NYSE:BRO – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. Brown & Brown had a return on equity of 14.88% and a net margin of 18.80%. The business had revenue of $901.40 million for the quarter, compared to analysts’ expectations of $897.98 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The business’s revenue was up 22.1% on a year-over-year basis. On average, equities analysts anticipate that Brown & Brown, Inc. will post 2.47 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Friday, February 3rd were issued a dividend of $0.115 per share. The ex-dividend date was Thursday, February 2nd. This represents a $0.46 dividend on an annualized basis and a yield of 0.86%. Brown & Brown’s dividend payout ratio (DPR) is presently 19.49%.

Wall Street Analyst Weigh In

BRO has been the subject of a number of research reports. StockNews.com assumed coverage on Brown & Brown in a research note on Thursday. They issued a “hold” rating for the company. Citigroup started coverage on shares of Brown & Brown in a report on Wednesday, December 14th. They set a “neutral” rating and a $62.00 price objective on the stock. BMO Capital Markets initiated coverage on shares of Brown & Brown in a report on Thursday, January 19th. They set an “outperform” rating and a $67.00 price objective for the company. Morgan Stanley lowered their target price on shares of Brown & Brown from $69.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 22nd. Finally, Wells Fargo & Company cut their price target on Brown & Brown from $60.00 to $59.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 25th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $66.30.

Brown & Brown Company Profile

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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.