Elser Financial Planning Inc Sells 2,994 Shares of Brown & Brown, Inc. (NYSE:BRO)

Elser Financial Planning Inc cut its position in Brown & Brown, Inc. (NYSE:BRO) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,835 shares of the financial services provider’s stock after selling 2,994 shares during the quarter. Brown & Brown accounts for about 0.2% of Elser Financial Planning Inc’s holdings, making the stock its 21st biggest holding. Elser Financial Planning Inc’s holdings in Brown & Brown were worth $3,656,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Studio Investment Management LLC increased its stake in shares of Brown & Brown by 1.5% in the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after buying an additional 96 shares during the period. Journey Strategic Wealth LLC increased its stake in shares of Brown & Brown by 2.3% in the fourth quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $458,000 after buying an additional 99 shares during the period. Trust Point Inc. increased its stake in shares of Brown & Brown by 4.3% in the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after buying an additional 103 shares during the period. CWA Asset Management Group LLC increased its stake in shares of Brown & Brown by 3.7% in the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock valued at $297,000 after buying an additional 103 shares during the period. Finally, Bleakley Financial Group LLC increased its stake in shares of Brown & Brown by 3.4% in the fourth quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock valued at $323,000 after buying an additional 103 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BRO. Keefe, Bruyette & Woods decreased their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Royal Bank of Canada raised their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Wells Fargo & Company raised their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Barclays raised their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Stock Up 0.8 %

BRO stock opened at $108.64 on Monday. Brown & Brown, Inc. has a twelve month low of $78.70 and a twelve month high of $114.15. The company has a quick ratio of 1.73, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $104.65 and its 200-day moving average is $104.74. The firm has a market capitalization of $31.07 billion, a PE ratio of 31.40, a P/E/G ratio of 2.84 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Sell-side analysts expect that Brown & Brown, Inc. will post 4.15 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. Brown & Brown’s dividend payout ratio (DPR) is currently 17.34%.

Brown & Brown Company 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.