Brighton Jones LLC Trims Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Brighton Jones LLC trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,090 shares of the financial services provider’s stock after selling 521 shares during the period. Brighton Jones LLC’s holdings in Brown & Brown were worth $1,029,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BRO. Allspring Global Investments Holdings LLC grew its holdings in Brown & Brown by 0.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock valued at $405,638,000 after buying an additional 28,180 shares during the last quarter. Barclays PLC lifted its position in shares of Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after acquiring an additional 371,980 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Brown & Brown by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after acquiring an additional 17,934 shares during the last quarter. FMR LLC increased its position in Brown & Brown by 42.4% during the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after purchasing an additional 330,661 shares in the last quarter. Finally, Natixis Advisors LLC raised its stake in Brown & Brown by 6.2% in the 3rd quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider’s stock valued at $80,749,000 after purchasing an additional 45,766 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BRO has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Wells Fargo & Company raised their price objective on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Truist Financial raised their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. One research 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’s stock. According to MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and a consensus target price of $112.08.

Brown & Brown Trading Up 0.7 %

NYSE BRO opened at $106.01 on Friday. The stock has a market cap of $30.31 billion, a P/E ratio of 28.88, a PEG ratio of 2.12 and a beta of 0.85. The company’s fifty day simple moving average is $105.75 and its 200-day simple moving average is $103.80. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 52 week low of $75.79 and a 52 week high of $114.15.

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

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.57%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.35%.

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.