Simon Quick Advisors LLC Cuts Position in Brown & Brown, Inc. (NYSE:BRO)

Simon Quick Advisors LLC cut its stake in Brown & Brown, Inc. (NYSE:BRO) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,347 shares of the financial services provider’s stock after selling 263 shares during the quarter. Simon Quick Advisors LLC’s holdings in Brown & Brown were worth $1,158,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Brown & Brown in the 3rd quarter worth $26,000. ST Germain D J Co. Inc. boosted its position in shares of Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Brown & Brown during the 3rd quarter worth about $29,000. Versant Capital Management Inc lifted its position in Brown & Brown by 130.7% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 234 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Brown & Brown during the 3rd quarter worth about $58,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Argus assumed coverage on Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target for the company. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Barclays lifted their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Royal Bank of Canada lifted their price objective on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Bank of America lifted their price objective on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $112.08.

Brown & Brown Price Performance

NYSE:BRO opened at $105.75 on Wednesday. Brown & Brown, Inc. has a 12 month low of $74.69 and a 12 month high of $114.15. The stock has a 50 day moving average of $106.19 and a two-hundred day moving average of $103.47. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The firm has a market cap of $30.24 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. Brown & Brown’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. On average, analysts expect that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

About Brown & Brown

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.