Brown & Brown, Inc. (NYSE:BRO) Stock Position Decreased by Proficio Capital Partners LLC

Proficio Capital Partners LLC cut its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,695 shares of the financial services provider’s stock after selling 1,183 shares during the quarter. Proficio Capital Partners LLC’s holdings in Brown & Brown were worth $1,004,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. ST Germain D J Co. Inc. boosted its stake in shares of Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Crewe Advisors LLC boosted its position in shares of Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after buying an additional 228 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Brown & Brown in the first quarter worth $32,000. Larson Financial Group LLC boosted its position in shares of Brown & Brown by 65.7% in the second quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock worth $48,000 after buying an additional 211 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Brown & Brown by 142.3% in the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after buying an additional 323 shares during the period. 71.01% of the stock is owned by institutional investors.

Brown & Brown Price Performance

NYSE BRO opened at $112.43 on Friday. Brown & Brown, Inc. has a fifty-two week low of $69.13 and a fifty-two week high of $114.08. The stock’s 50-day moving average is $104.75 and its two-hundred day moving average is $96.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market cap of $32.15 billion, a P/E ratio of 30.63, a price-to-earnings-growth ratio of 2.55 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. On average, analysts anticipate that Brown & Brown, Inc. will post 3.73 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, November 6th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.53%. Brown & Brown’s payout ratio is presently 16.35%.

Analyst Ratings Changes

Several analysts have recently commented on BRO shares. Truist Financial raised their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Raymond James raised their target price on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Jefferies Financial Group raised their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods increased their price objective on Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. One equities 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $106.50.

Insider Transactions at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.02% of the stock is currently owned by corporate 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.