Kentucky Retirement Systems Sells 224 Shares of Brown & Brown, Inc. (NYSE:BRO)

Kentucky Retirement Systems trimmed its holdings in Brown & Brown, Inc. (NYSE:BRO) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,270 shares of the financial services provider’s stock after selling 224 shares during the period. Kentucky Retirement Systems’ holdings in Brown & Brown were worth $1,660,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BRO. Brooklyn Investment Group acquired a new stake in shares of Brown & Brown in the 3rd quarter worth about $26,000. Ashton Thomas Securities LLC bought a new stake in Brown & Brown during the 3rd quarter worth approximately $29,000. Y.D. More Investments Ltd raised its stake in shares of Brown & Brown by 122.7% in 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 last quarter. R Squared Ltd bought a new position in shares of Brown & Brown in the fourth quarter valued at approximately $31,000. Finally, Versant Capital Management Inc boosted its position in shares of Brown & Brown by 130.7% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after buying an additional 234 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Price Performance

Brown & Brown stock opened at $111.65 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The business’s 50 day simple moving average is $105.28 and its 200 day simple moving average is $105.54. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $114.15. The company has a market cap of $31.92 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Sell-side analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown’s payout ratio is 17.34%.

Analyst Ratings Changes

A number of equities research analysts recently commented on BRO shares. Truist Financial increased their price target on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Bank of America increased their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley initiated coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective for the company. Finally, Royal Bank of Canada boosted their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.