Nisa Investment Advisors LLC Cuts Stake in Brown & Brown, Inc. $BRO

Nisa Investment Advisors LLC trimmed its stake in Brown & Brown, Inc. (NYSE:BRO) by 29.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,426 shares of the financial services provider’s stock after selling 20,164 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Brown & Brown were worth $4,636,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of BRO. ST Germain D J Co. Inc. grew its stake in shares of Brown & Brown by 298.5% during the 2nd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $30,000 after buying an additional 200 shares during the period. Darwin Wealth Management LLC acquired a new position in Brown & Brown in the second quarter valued at $30,000. Motco acquired a new stake in Brown & Brown during the second quarter worth about $32,000. Bruce G. Allen Investments LLC raised its holdings in shares of Brown & Brown by 1,129.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 305 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in shares of Brown & Brown by 39.3% in the 2nd quarter. TD Private Client Wealth LLC now owns 436 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $80.63 on Monday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $27.53 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 1.78 and a beta of 0.81. Brown & Brown, Inc. has a twelve month low of $76.17 and a twelve month high of $125.68. The business has a 50 day simple moving average of $79.80 and a 200-day simple moving average of $90.37.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The firm’s revenue was up 35.4% on a year-over-year basis. As a group, equities research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were issued a $0.165 dividend. This is a boost from Brown & Brown’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. Brown & Brown’s dividend payout ratio (DPR) is presently 19.76%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America reaffirmed a “neutral” rating and set a $97.00 price target (down from $135.00) on shares of Brown & Brown in a research report on Monday, November 3rd. Wall Street Zen upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Morgan Stanley lowered their price target on Brown & Brown from $95.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, November 17th. UBS Group reduced their price objective on Brown & Brown from $120.00 to $106.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Brown & Brown in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $99.80.

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.