Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. reduced its position in Brown & Brown, Inc. (NYSE:BRO) by 16.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,829 shares of the financial services provider’s stock after selling 571 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Brown & Brown were worth $293,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its stake in Brown & Brown by 2.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock valued at $23,390,000 after purchasing an additional 6,613 shares during the last quarter. Sei Investments Co. grew its holdings in Brown & Brown by 12.7% in the 1st quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock valued at $24,169,000 after buying an additional 31,071 shares in the last quarter. Great Valley Advisor Group Inc. purchased a new stake in Brown & Brown in the 2nd quarter valued at $1,512,000. DekaBank Deutsche Girozentrale grew its holdings in Brown & Brown by 12.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock valued at $21,855,000 after buying an additional 27,879 shares in the last quarter. Finally, Norden Group LLC grew its holdings in Brown & Brown by 2,650.9% in the 1st quarter. Norden Group LLC now owns 99,856 shares of the financial services provider’s stock valued at $8,741,000 after buying an additional 96,226 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BRO shares. Keefe, Bruyette & Woods upped their target price on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Argus started coverage on Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price for the company. Truist Financial upped their target price on Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Raymond James upped their target price on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, UBS Group increased their price target on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Brown & Brown currently has an average rating of “Moderate Buy” and an average price target of $101.67.

Brown & Brown Price Performance

BRO stock opened at $105.65 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market capitalization of $30.14 billion, a P/E ratio of 32.51, a P/E/G ratio of 2.38 and a beta of 0.83. The business’s 50-day moving average is $102.45 and its two-hundred day moving average is $93.18. Brown & Brown, Inc. has a 1 year low of $66.73 and a 1 year high of $106.02.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. Brown & Brown’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS. Analysts anticipate that Brown & Brown, Inc. will post 3.68 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, August 7th. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Insider Transactions at Brown & Brown

In other news, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s 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 disclosure for this sale can be found here. Corporate insiders own 17.02% of the company’s stock.

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.