Metropolitan Life Insurance Co NY trimmed its position in Brown & Brown, Inc. (NYSE:BRO) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,878 shares of the financial services provider’s stock after selling 1,658 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Brown & Brown were worth $2,376,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Krane Funds Advisors LLC acquired a new position in shares of Brown & Brown during the second quarter worth $26,000. Cullen Frost Bankers Inc. grew its stake in Brown & Brown by 95.4% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 885 shares of the financial services provider’s stock worth $32,000 after buying an additional 432 shares during the last quarter. Usca Ria LLC purchased a new position in Brown & Brown during the 3rd quarter worth $38,000. Signaturefd LLC increased its position in Brown & Brown by 42.8% during the 2nd quarter. Signaturefd LLC now owns 1,247 shares of the financial services provider’s stock valued at $42,000 after buying an additional 374 shares in the last quarter. Finally, Ossiam acquired a new position in Brown & Brown during the 2nd quarter valued at about $56,000. Institutional investors own 69.51% of the company’s stock.

NYSE:BRO opened at $37.63 on Tuesday. Brown & Brown, Inc. has a 12 month low of $25.72 and a 12 month high of $38.37. The firm has a fifty day simple moving average of $37.26 and a 200-day simple moving average of $35.38. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $10.62 billion, a P/E ratio of 27.35, a PEG ratio of 2.72 and a beta of 0.69.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, October 28th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The firm had revenue of $618.70 million for the quarter, compared to the consensus estimate of $610.36 million. Brown & Brown had a return on equity of 12.39% and a net margin of 17.04%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. Equities analysts forecast that Brown & Brown, Inc. will post 1.39 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 8th were paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Thursday, November 7th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.08. Brown & Brown’s payout ratio is presently 27.64%.

Several equities research analysts have weighed in on BRO shares. Barclays raised their price target on Brown & Brown from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Wednesday, October 2nd. ValuEngine lowered Brown & Brown from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. SunTrust Banks upped their price objective on shares of Brown & Brown from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. They noted that the move was a valuation call. Finally, Raymond James increased their price objective on shares of Brown & Brown from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Brown & Brown currently has an average rating of “Hold” and a consensus price target of $33.50.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.

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

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