Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its holdings in Brown & Brown, Inc. (NYSE:BRO) by 5.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,422 shares of the financial services provider’s stock after selling 1,494 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Brown & Brown were worth $2,225,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BRO. Pacer Advisors Inc. grew its position in shares of Brown & Brown by 6.5% during the fourth quarter. Pacer Advisors Inc. now owns 15,761 shares of the financial services provider’s stock worth $1,121,000 after buying an additional 968 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Brown & Brown by 4.5% in the 4th quarter. Fifth Third Bancorp now owns 5,539 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 236 shares during the last quarter. Claro Advisors LLC raised its stake in shares of Brown & Brown by 3.7% in the 4th quarter. Claro Advisors LLC now owns 10,333 shares of the financial services provider’s stock valued at $735,000 after purchasing an additional 368 shares in the last quarter. Integrated Investment Consultants LLC lifted its position in shares of Brown & Brown by 7.9% during the fourth quarter. Integrated Investment Consultants LLC now owns 8,585 shares of the financial services provider’s stock worth $610,000 after purchasing an additional 628 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new position in Brown & Brown in the fourth quarter worth about $234,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Buying and Selling at Brown & Brown

In other news, EVP Julie Turpin sold 3,350 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following the completion of the transaction, the executive vice president now owns 23,597 shares of the company’s stock, valued at $2,121,842.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 17.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BRO. Royal Bank of Canada increased their target price on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Bank of America upgraded Brown & Brown from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $91.00 to $101.00 in a research note on Wednesday, May 22nd. UBS Group boosted their target price on shares of Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Truist Financial lifted their price target on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and an average price target of $97.40.

Brown & Brown Stock Down 0.5 %

Brown & Brown stock opened at $98.66 on Tuesday. The firm has a market capitalization of $28.14 billion, a P/E ratio of 30.36, a P/E/G ratio of 2.47 and a beta of 0.82. The company has a 50-day simple moving average of $91.28 and a 200-day simple moving average of $85.63. Brown & Brown, Inc. has a one year low of $66.73 and a one year high of $99.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35.

Brown & Brown (NYSE:BRO) last posted its 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. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. Brown & Brown’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. As a group, equities analysts expect that Brown & Brown, Inc. will post 3.67 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, August 7th. Brown & Brown’s dividend payout ratio is currently 16.00%.

Brown & Brown Company 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.