Brown & Brown, Inc. (NYSE:BRO) Holdings Trimmed by Private Trust Co. NA

Private Trust Co. NA lowered its holdings in Brown & Brown, Inc. (NYSE:BRO) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,265 shares of the financial services provider’s stock after selling 145 shares during the period. Private Trust Co. NA’s holdings in Brown & Brown were worth $338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BRO. Studio Investment Management LLC lifted its stake in Brown & Brown by 1.5% in the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock worth $675,000 after acquiring an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Brown & Brown by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after purchasing an additional 100 shares in the last quarter. Trust Point Inc. boosted its holdings in shares of Brown & Brown by 4.3% during the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 103 shares during the period. Creative Planning grew its position in Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after purchasing an additional 112 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Brown & Brown by 0.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock valued at $2,375,000 after buying an additional 113 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BRO. Truist Financial lifted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays lifted their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada upped their target price on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. One 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $107.42.

Brown & Brown Trading Down 0.2 %

NYSE:BRO opened at $113.20 on Thursday. The company’s 50 day moving average is $106.52 and its 200-day moving average is $99.38. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 12 month low of $69.13 and a 12 month high of $114.15. The firm has a market cap of $32.37 billion, a price-to-earnings ratio of 30.84, a P/E/G ratio of 2.57 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $1.19 billion during 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 business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. Equities analysts anticipate that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.53%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

About Brown & Brown

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.