Vaughan David Investments Inc. IL Sells 87,585 Shares of Brown & Brown, Inc. (NYSE:BRO)

Vaughan David Investments Inc. IL reduced its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 87.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,415 shares of the financial services provider’s stock after selling 87,585 shares during the period. Vaughan David Investments Inc. IL’s holdings in Brown & Brown were worth $791,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. IFP Advisors Inc boosted its position in shares of Brown & Brown by 9.8% during the 2nd quarter. IFP Advisors Inc now owns 2,823 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 251 shares in the last quarter. Mosaic Family Wealth LLC boosted its position in shares of Brown & Brown by 5.9% during the 2nd quarter. Mosaic Family Wealth LLC now owns 4,208 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 235 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Brown & Brown by 10.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,322 shares of the financial services provider’s stock valued at $186,000 after acquiring an additional 405 shares in the last quarter. Rowland & Co. Investment Counsel ADV boosted its position in shares of Brown & Brown by 4.1% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 4,465 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 175 shares in the last quarter. Finally, Hartford Investment Management Co. acquired a new stake in shares of Brown & Brown during the 2nd quarter valued at about $211,000. Institutional investors and hedge funds own 71.95% of the company’s stock.

In other Brown & Brown news, Director Richard Silas sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $0.83, for a total value of $41,500.00. Also, insider Michael Waldkirch sold 75,000 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $0.75, for a total transaction of $56,250.00. Over the last ninety days, insiders sold 163,000 shares of company stock valued at $126,250. Insiders own 16.98% of the company’s stock.

Several analysts have recently weighed in on BRO shares. BidaskClub lowered shares of Brown & Brown from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Wells Fargo & Company reiterated a “hold” rating on shares of Brown & Brown in a research report on Tuesday, August 15th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $43.00 target price on shares of Brown & Brown in a research report on Friday, August 18th. Barclays lifted their price target on shares of Brown & Brown from $39.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 16th. Finally, Morgan Stanley lifted their price target on shares of Brown & Brown from $40.00 to $43.00 and gave the company an “underweight” rating in a report on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $46.11.

Shares of Brown & Brown, Inc. (BRO) traded up $0.50 during mid-day trading on Friday, reaching $51.75. 544,951 shares of the company traded hands, compared to its average volume of 492,470. Brown & Brown, Inc. has a 12-month low of $41.10 and a 12-month high of $51.79. The company has a market cap of $7,214.16, a P/E ratio of 27.67, a P/E/G ratio of 2.78 and a beta of 0.80. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.35.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.04. Brown & Brown had a net margin of 14.66% and a return on equity of 10.99%. The firm had revenue of $475.60 million during the quarter, compared to the consensus estimate of $475.13 million. During the same period last year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. equities research analysts predict that Brown & Brown, Inc. will post 1.86 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 8th. Shareholders of record on Friday, October 27th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, October 26th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.16%. Brown & Brown’s payout ratio is currently 31.75%.

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About Brown & Brown

Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.

Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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