Yousif Capital Management LLC Sells 5,404 Shares of Brown & Brown, Inc. (NYSE:BRO)

Yousif Capital Management LLC lessened its stake in Brown & Brown, Inc. (NYSE:BRO) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,413 shares of the financial services provider’s stock after selling 5,404 shares during the period. Yousif Capital Management LLC’s holdings in Brown & Brown were worth $9,629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BRO. Fortitude Family Office LLC bought a new stake in Brown & Brown in the 4th quarter valued at $31,000. Park Place Capital Corp increased its position in shares of Brown & Brown by 166.5% during the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 318 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Brown & Brown by 174.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock valued at $39,000 after buying an additional 348 shares during the period. GPS Wealth Strategies Group LLC raised its holdings in Brown & Brown by 150.6% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock valued at $41,000 after buying an additional 354 shares during the period. Finally, Mendota Financial Group LLC bought a new stake in Brown & Brown in the fourth quarter worth $42,000. 71.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the sale, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 16.43% of the company’s stock.

Brown & Brown Stock Down 1.0 %

Shares of BRO traded down $0.80 during midday trading on Wednesday, reaching $82.13. The stock had a trading volume of 1,420,147 shares, compared to its average volume of 1,331,063. The company has a market cap of $23.43 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 2.48 and a beta of 0.78. The company’s fifty day simple moving average is $84.30 and its two-hundred day simple moving average is $76.99. Brown & Brown, Inc. has a 1-year low of $60.00 and a 1-year high of $87.99. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.95 and a quick ratio of 1.95.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. Brown & Brown had a return on equity of 16.82% and a net margin of 21.09%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company posted $0.84 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts expect that Brown & Brown, Inc. will post 3.55 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, May 3rd. Brown & Brown’s dividend payout ratio is presently 16.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BRO shares. Wells Fargo & Company raised their price target on Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup boosted their target price on shares of Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. UBS Group raised their price target on shares of Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Brown & Brown from $75.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada raised their target price on shares of Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $87.10.

About Brown & Brown

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.