Congress Wealth Management LLC DE Sells 2,225 Shares of Brown & Brown, Inc. (NYSE:BRO)

Congress Wealth Management LLC DE cut its stake in Brown & Brown, Inc. (NYSE:BRO) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,783 shares of the financial services provider’s stock after selling 2,225 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Brown & Brown were worth $14,465,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Commerce Bank boosted its stake 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 worth $1,024,000 after purchasing an additional 438 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Brown & Brown during the third quarter valued at approximately $3,552,000. Charles Schwab Investment Management Inc. grew its stake in shares of Brown & Brown by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after buying an additional 17,934 shares during the last quarter. Citigroup Inc. grew its stake in shares of Brown & Brown by 1.6% during the third quarter. Citigroup Inc. now owns 275,479 shares of the financial services provider’s stock valued at $28,540,000 after buying an additional 4,322 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Brown & Brown by 53.3% during the 3rd quarter. Cerity Partners LLC now owns 54,252 shares of the financial services provider’s stock worth $5,620,000 after acquiring an additional 18,869 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

BRO opened at $121.02 on Tuesday. The firm has a market capitalization of $34.60 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The business’s 50-day moving average is $111.92 and its two-hundred day moving average is $107.82. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $121.30. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

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

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.50%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 17.34%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Morgan Stanley began coverage on Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective on the stock. Wells Fargo & Company raised their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Royal Bank of Canada raised their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Bank of America boosted their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. One equities research 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $113.17.

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.