Brown & Brown, Inc. (NYSE:BRO) Holdings Reduced by Stonebridge Capital Advisors LLC

Stonebridge Capital Advisors LLC cut its stake in Brown & Brown, Inc. (NYSE:BRO) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,650 shares of the financial services provider’s stock after selling 450 shares during the period. Stonebridge Capital Advisors LLC’s holdings in Brown & Brown were worth $320,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BRO. Headlands Technologies LLC bought a new position in shares of Brown & Brown in the first quarter valued at approximately $32,000. Park Place Capital Corp boosted its holdings in shares of Brown & Brown by 166.5% in the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 318 shares in the last quarter. Alaska Permanent Fund Corp bought a new position in shares of Brown & Brown in the first quarter valued at approximately $36,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Brown & Brown by 174.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 348 shares in the last quarter. Finally, First PREMIER Bank bought a new position in shares of Brown & Brown in the first quarter valued at approximately $40,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Up 1.8 %

Shares of BRO traded up $1.74 during mid-day trading on Friday, hitting $99.17. 960,217 shares of the company’s stock were exchanged, compared to its average volume of 1,109,496. The firm has a fifty day moving average of $91.28 and a two-hundred day moving average of $85.45. Brown & Brown, Inc. has a twelve month low of $66.73 and a twelve month high of $99.26. The stock has a market cap of $28.29 billion, a price-to-earnings ratio of 30.51, a P/E/G ratio of 2.42 and a beta of 0.82. The company has a quick ratio of 1.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business posted $0.68 EPS. Brown & Brown’s quarterly revenue was up 12.5% on a year-over-year basis. On average, sell-side analysts forecast that Brown & Brown, Inc. will post 3.67 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be paid a $0.13 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.52 dividend on an annualized basis and a yield of 0.52%. Brown & Brown’s payout ratio is presently 16.00%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BRO shares. Raymond James raised their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday. Citigroup raised their target price on shares of Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Bank of America upgraded shares of Brown & Brown from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $91.00 to $101.00 in a report on Wednesday, May 22nd. Finally, Truist Financial raised their target price on shares of Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $97.40.

Insider Activity at Brown & Brown

In related news, EVP Julie Turpin sold 3,350 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the transaction, the executive vice president now directly owns 23,597 shares in the company, valued at approximately $2,121,842.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.02% of the stock is currently owned by company insiders.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.