Axxcess Wealth Management LLC Has $213,000 Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Axxcess Wealth Management LLC decreased its stake in Brown & Brown, Inc. (NYSE:BRO) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,089 shares of the financial services provider’s stock after selling 119 shares during the period. Axxcess Wealth Management LLC’s holdings in Brown & Brown were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BRO. Quest Partners LLC acquired a new stake in shares of Brown & Brown in the third quarter valued at about $688,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Brown & Brown in the third quarter valued at about $646,000. PNC Financial Services Group Inc. boosted its position in shares of Brown & Brown by 9.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 46,666 shares of the financial services provider’s stock valued at $4,835,000 after purchasing an additional 4,146 shares in the last quarter. Commerce Bank boosted its position in shares of Brown & Brown by 4.6% during the 3rd quarter. Commerce Bank now owns 9,887 shares of the financial services provider’s stock valued at $1,024,000 after purchasing an additional 438 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Brown & Brown during the 3rd quarter valued at about $3,552,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on BRO shares. Morgan Stanley started coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 target price on the stock. Royal Bank of Canada upped their target price on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company increased their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Bank of America raised their target price on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Price Performance

Brown & Brown stock opened at $118.38 on Friday. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $121.25. The business has a fifty day moving average price of $111.55 and a 200-day moving average price of $107.69. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market capitalization of $33.85 billion, a P/E ratio of 34.21, a PEG ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. As a group, equities research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.51%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is 17.34%.

Brown & Brown Profile

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.