Incline Global Management LLC Sells 148,953 Shares of Brown & Brown, Inc. $BRO

Incline Global Management LLC decreased its position in Brown & Brown, Inc. (NYSE:BRO) by 89.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,872 shares of the financial services provider’s stock after selling 148,953 shares during the quarter. Brown & Brown makes up 0.5% of Incline Global Management LLC’s portfolio, making the stock its 26th biggest position. Incline Global Management LLC’s holdings in Brown & Brown were worth $1,345,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. ICONIQ Capital LLC raised its holdings in Brown & Brown by 5.4% in the second quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 109 shares in the last quarter. Zacks Investment Management increased its holdings in shares of Brown & Brown by 0.7% during the third quarter. Zacks Investment Management now owns 17,854 shares of the financial services provider’s stock valued at $1,675,000 after acquiring an additional 125 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Brown & Brown by 13.1% during the fourth quarter. Private Trust Co. NA now owns 1,147 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 133 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of Brown & Brown by 2.1% during the third quarter. Moors & Cabot Inc. now owns 6,805 shares of the financial services provider’s stock valued at $638,000 after acquiring an additional 142 shares in the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in shares of Brown & Brown by 1.7% during the third quarter. Aptus Capital Advisors LLC now owns 9,491 shares of the financial services provider’s stock valued at $890,000 after acquiring an additional 160 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling

In other Brown & Brown news, Director H Palmer Proctor, Jr. acquired 2,000 shares of Brown & Brown stock in a transaction that occurred on Tuesday, May 5th. The stock was bought at an average cost of $57.10 per share, for a total transaction of $114,200.00. Following the acquisition, the director owned 47,621 shares of the company’s stock, valued at $2,719,159.10. This represents a 4.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 13.13% of the company’s stock.

Wall Street Analysts Forecast Growth

BRO has been the subject of several analyst reports. Royal Bank Of Canada reduced their price target on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating for the company in a report on Wednesday, April 29th. Weiss Ratings restated a “hold (c-)” rating on shares of Brown & Brown in a report on Tuesday, June 9th. Citizens Jmp initiated coverage on Brown & Brown in a report on Thursday, May 21st. They set a “market outperform” rating and a $70.00 price target for the company. Bank of America reduced their price target on Brown & Brown from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Finally, UBS Group reduced their price target on Brown & Brown from $81.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $78.44.

Brown & Brown Price Performance

NYSE BRO opened at $59.09 on Thursday. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $111.10. The stock has a 50-day moving average of $60.70 and a 200 day moving average of $69.34. The company has a market capitalization of $20.03 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 2.75 and a beta of 0.63. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the company earned $1.29 EPS. Brown & Brown’s revenue for the quarter was up 35.4% on a year-over-year basis. On average, sell-side analysts forecast that Brown & Brown, Inc. will post 4.51 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, May 11th. Brown & Brown’s dividend payout ratio (DPR) is presently 21.22%.

About Brown & Brown

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.