TimesSquare Capital Management LLC Has $42.89 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

TimesSquare Capital Management LLC decreased its stake in Brown & Brown, Inc. (NYSE:BRO) by 1.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 414,027 shares of the financial services provider’s stock after selling 5,165 shares during the period. TimesSquare Capital Management LLC’s holdings in Brown & Brown were worth $42,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crewe Advisors LLC grew its position in Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 228 shares during the last quarter. ST Germain D J Co. Inc. raised its holdings in Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Headlands Technologies LLC acquired a new position in Brown & Brown in the 1st quarter valued at approximately $32,000. Blue Trust Inc. lifted its position in shares of Brown & Brown by 142.3% in the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 323 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Brown & Brown by 65.7% during the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 211 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wells Fargo & Company raised their target price on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Argus assumed coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price objective for the company. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Jefferies Financial Group raised their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods upped their price objective on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $106.50.

Insiders Place Their Bets

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 17.02% of the company’s stock.

Brown & Brown Stock Up 1.9 %

NYSE BRO opened at $112.43 on Friday. The stock’s 50 day simple moving average is $104.75 and its 200 day simple moving average is $96.96. Brown & Brown, Inc. has a one year low of $69.13 and a one year high of $114.08. The firm has a market cap of $32.15 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 2.55 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that Brown & Brown, Inc. will post 3.73 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.53%. The ex-dividend date is Wednesday, November 6th. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is presently 16.35%.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.