WCM Investment Management LLC Sells 3,851 Shares of Brown & Brown, Inc. (NYSE:BRO)

WCM Investment Management LLC trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,040 shares of the financial services provider’s stock after selling 3,851 shares during the quarter. WCM Investment Management LLC’s holdings in Brown & Brown were worth $5,818,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Brooklyn Investment Group bought a new position in Brown & Brown in the 3rd quarter valued at about $26,000. ST Germain D J Co. Inc. raised its position in Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Brown & Brown in the 3rd quarter valued at approximately $29,000. Y.D. More Investments Ltd lifted its holdings in shares of Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 162 shares during the period. Finally, R Squared Ltd acquired a new position in Brown & Brown during the 4th quarter worth about $31,000. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Performance

Shares of BRO stock opened at $108.64 on Monday. Brown & Brown, Inc. has a 12 month low of $78.70 and a 12 month high of $114.15. The firm’s 50 day moving average is $104.65 and its 200 day moving average is $104.74. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $31.07 billion, a P/E ratio of 31.40, a PEG ratio of 2.84 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.15 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BRO. Barclays increased their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada increased their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Bank of America boosted their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods lowered their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company increased their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Profile

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.