11,640 Brown & Brown, Inc. $BRO Shares Sold by Fenimore Asset Management Inc

Fenimore Asset Management Inc trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,232,203 shares of the financial services provider’s stock after selling 11,640 shares during the period. Brown & Brown comprises about 3.0% of Fenimore Asset Management Inc’s portfolio, making the stock its 12th biggest holding. Fenimore Asset Management Inc’s holdings in Brown & Brown were worth $135,941,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BRO. Union Bancaire Privee UBP SA acquired a new position in shares of Brown & Brown during the 1st quarter valued at about $25,000. Continuum Advisory LLC acquired a new stake in Brown & Brown in the 2nd quarter worth approximately $34,000. Allied Private Wealth LLC bought a new stake in Brown & Brown during the second quarter worth approximately $35,000. Johnson Financial Group Inc. bought a new stake in Brown & Brown during the second quarter worth approximately $37,000. Finally, Elevation Wealth Partners LLC grew its holdings in Brown & Brown by 175.1% during the third quarter. Elevation Wealth Partners LLC now owns 619 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 394 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Brown & Brown from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Citizens Jmp raised their target price on shares of Brown & Brown from $70.00 to $78.00 and gave the company a “market outperform” rating in a research note on Friday, July 10th. The Goldman Sachs Group lifted their target price on shares of Brown & Brown from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Wells Fargo & Company decreased their price target on shares of Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating for the company in a report on Thursday, July 9th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Brown & Brown in a research report on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $75.62.

Brown & Brown Price Performance

NYSE BRO traded up $2.05 on Thursday, reaching $63.77. The company’s stock had a trading volume of 4,322,110 shares, compared to its average volume of 2,972,860. Brown & Brown, Inc. has a 52 week low of $53.81 and a 52 week high of $96.13. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58. The firm has a market cap of $21.34 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 1.88 and a beta of 0.60. The business has a 50-day moving average price of $68.03 and a 200 day moving average price of $64.93.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.71 billion. Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 EPS. Sell-side analysts expect that Brown & Brown, Inc. will post 4.5 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 12th were given a dividend of $0.1650 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, August 12th. Brown & Brown’s dividend payout ratio (DPR) is 20.82%.

Brown & Brown Company Profile

Brown & Brown, Inc is an independent insurance brokerage, risk management and employee benefits firm headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance placement, risk consulting and related services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialized insurance programs. Brown & Brown also operates wholesale brokerage businesses that provide coverage solutions and access to insurance markets for retail agents and brokers, including products designed for specialty and hard-to-place risks.

Founded in 1939 by J.