Brown & Brown, Inc. $BRO Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC lowered its holdings in Brown & Brown, Inc. (NYSE:BRO) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,807 shares of the financial services provider’s stock after selling 715 shares during the period. Integrated Wealth Concepts LLC’s holdings in Brown & Brown were worth $1,220,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Bank Pictet & Cie Europe AG acquired a new position in shares of Brown & Brown in the fourth quarter worth about $907,000. Cetera Investment Advisers boosted its holdings in shares of Brown & Brown by 2.5% in the fourth quarter. Cetera Investment Advisers now owns 36,280 shares of the financial services provider’s stock worth $3,701,000 after buying an additional 885 shares during the period. Focus Partners Wealth boosted its holdings in shares of Brown & Brown by 135.0% in the fourth quarter. Focus Partners Wealth now owns 10,602 shares of the financial services provider’s stock worth $1,082,000 after buying an additional 6,090 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Brown & Brown by 2.2% in the fourth quarter. Janus Henderson Group PLC now owns 25,739 shares of the financial services provider’s stock worth $2,626,000 after buying an additional 544 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC boosted its holdings in shares of Brown & Brown by 16.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 5,153 shares of the financial services provider’s stock worth $526,000 after buying an additional 723 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Bronislaw Edmund Masojada bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average price of $91.44 per share, with a total value of $91,440.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at $457,200. The trade was a 25.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul J. Krump bought 2,678 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $93.31 per share, for a total transaction of $249,884.18. Following the transaction, the director directly owned 5,353 shares of the company’s stock, valued at $499,488.43. This trade represents a 100.11% increase in their position. The disclosure for this purchase can be found here. Company insiders own 17.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen cut shares of Brown & Brown from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Barclays decreased their price target on shares of Brown & Brown from $111.00 to $108.00 and set an “equal weight” rating for the company in a report on Tuesday, July 29th. Argus restated a “hold” rating on shares of Brown & Brown in a report on Thursday, July 31st. Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $104.00 to $87.00 and set an “underperform” rating for the company in a report on Thursday, July 31st. Finally, Bank of America upgraded shares of Brown & Brown from a “neutral” rating to a “buy” rating and raised their price target for the stock from $126.00 to $130.00 in a report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $112.64.

Brown & Brown Trading Down 1.1%

NYSE:BRO opened at $92.40 on Thursday. Brown & Brown, Inc. has a 12 month low of $90.38 and a 12 month high of $125.68. The firm has a market cap of $30.48 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 2.13 and a beta of 0.81. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average is $98.56 and its 200-day moving average is $108.78.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 28th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the firm posted $0.93 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. Brown & Brown’s dividend payout ratio (DPR) is currently 17.29%.

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.