Thurston Springer Miller Herd & Titak Inc. Sells 37,190 Shares of Brown & Brown, Inc. $BRO

Thurston Springer Miller Herd & Titak Inc. decreased its position in Brown & Brown, Inc. (NYSE:BRO) by 91.4% in the third quarter, Holdings Channel.com reports. The firm owned 3,488 shares of the financial services provider’s stock after selling 37,190 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Brown & Brown were worth $327,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bares Capital Management Inc. purchased a new stake in shares of Brown & Brown in the 1st quarter worth about $26,000. ST Germain D J Co. Inc. lifted its position in 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 acquiring an additional 200 shares during the period. Darwin Wealth Management LLC purchased a new position in Brown & Brown during the 2nd quarter valued at about $30,000. Motco bought a new stake in Brown & Brown during the second quarter worth about $32,000. Finally, Bruce G. Allen Investments LLC grew its holdings in Brown & Brown by 1,129.6% in the second 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. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of BRO opened at $81.00 on Wednesday. Brown & Brown, Inc. has a twelve month low of $76.17 and a twelve month high of $125.68. The company has a market capitalization of $27.65 billion, a P/E ratio of 24.25, a price-to-earnings-growth ratio of 1.93 and a beta of 0.82. The firm has a 50 day moving average of $82.91 and a 200 day moving average of $94.01. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.62.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.90 by $0.15. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The company’s revenue was up 35.4% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS. As a group, equities research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, November 5th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s dividend payout ratio is 19.76%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America reiterated a “neutral” rating and set a $97.00 target price (down from $135.00) on shares of Brown & Brown in a report on Monday, November 3rd. Keefe, Bruyette & Woods cut their price target on Brown & Brown from $92.00 to $79.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 4th. Barclays lowered their price objective on Brown & Brown from $102.00 to $84.00 and set an “equal weight” rating for the company in a research note on Thursday, November 20th. Morgan Stanley dropped their target price on Brown & Brown from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, November 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Brown & Brown in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.71.

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.