Taikang Asset Management Hong Kong Co Ltd Sells 10,633 Shares of Brown & Brown, Inc. $BRO

Taikang Asset Management Hong Kong Co Ltd lowered its position in Brown & Brown, Inc. (NYSE:BRO) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 120,345 shares of the financial services provider’s stock after selling 10,633 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Brown & Brown were worth $9,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new stake in Brown & Brown in the fourth quarter worth about $27,000. Darwin Wealth Management LLC bought a new stake in Brown & Brown in the second quarter worth about $30,000. Board of the Pension Protection Fund bought a new stake in Brown & Brown in the fourth quarter worth about $40,000. Maseco LLP bought a new stake in Brown & Brown in the fourth quarter worth about $60,000. Finally, eCIO Inc. bought a new stake in Brown & Brown in the fourth quarter worth about $67,000. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Brown & Brown from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Citizens Jmp started coverage on shares of Brown & Brown in a research note on Thursday, May 21st. They issued a “market outperform” rating and a $70.00 price objective for the company. Barclays decreased their price target on shares of Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. UBS Group decreased their price target on shares of Brown & Brown from $81.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brown & Brown in a research note on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $78.44.

Brown & Brown Stock Performance

Brown & Brown stock opened at $59.66 on Wednesday. The company has a 50 day moving average price of $60.85 and a 200-day moving average price of $69.49. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $111.10. The company has a market capitalization of $20.22 billion, a PE ratio of 19.18, a P/E/G ratio of 2.73 and a beta of 0.63.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The company’s revenue was up 35.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. As a group, equities analysts forecast that Brown & Brown, Inc. will post 4.51 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, May 11th. Brown & Brown’s dividend payout ratio (DPR) is presently 21.22%.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were bought at an average cost of $57.10 per share, with a total value of $114,200.00. Following the completion of the acquisition, the director directly owned 47,621 shares in the company, valued at $2,719,159.10. This represents a 4.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.13% of the stock is currently owned by insiders.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.