Insight Wealth Strategies LLC Sells 776 Shares of Brown & Brown, Inc. (NYSE:BRO)

Insight Wealth Strategies LLC lessened its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,223 shares of the financial services provider’s stock after selling 776 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Brown & Brown were worth $2,675,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. CWA Asset Management Group LLC boosted its position in Brown & Brown by 3.7% during the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 103 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Brown & Brown by 4.0% during the 4th quarter. Nordea Investment Management AB now owns 21,746 shares of the financial services provider’s stock worth $2,219,000 after buying an additional 835 shares during the period. GAMMA Investing LLC grew its stake in Brown & Brown by 8.3% in the 4th quarter. GAMMA Investing LLC now owns 7,906 shares of the financial services provider’s stock valued at $807,000 after buying an additional 608 shares during the last quarter. Versant Capital Management Inc raised its holdings in Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 234 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Brown & Brown by 24.6% during the third quarter. Franklin Resources Inc. now owns 109,166 shares of the financial services provider’s stock valued at $11,565,000 after acquiring an additional 21,574 shares during the period. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of BRO traded down $0.90 during trading hours on Monday, hitting $100.69. The stock had a trading volume of 435,621 shares, compared to its average volume of 995,947. Brown & Brown, Inc. has a 52 week low of $70.89 and a 52 week high of $114.15. The stock has a market capitalization of $28.79 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 2.40 and a beta of 0.85. The company’s fifty day moving average is $107.11 and its two-hundred day moving average is $102.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company earned $0.71 EPS. Brown & Brown’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts anticipate that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.60%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s payout ratio is currently 16.35%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays upped their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Truist Financial increased their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Argus started coverage on Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target on the stock. Finally, Morgan Stanley assumed coverage on Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.46.

About Brown & Brown

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.