Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division lowered its stake in Brown & Brown, Inc. (NYSE:BRO) by 95.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 757 shares of the financial services provider’s stock after selling 17,754 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Brown & Brown were worth $78,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of BRO. Crewe Advisors LLC boosted its holdings in Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 228 shares during the last quarter. Headlands Technologies LLC bought a new position in Brown & Brown during the 1st quarter worth approximately $32,000. Alaska Permanent Fund Corp bought a new position in Brown & Brown during the 1st quarter worth approximately $36,000. First PREMIER Bank bought a new position in Brown & Brown during the 1st quarter worth approximately $40,000. Finally, Intelligent Financial Strategies bought a new position in Brown & Brown during the 1st quarter worth approximately $45,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of BRO stock traded up $1.02 during mid-day trading on Friday, hitting $105.65. 1,080,895 shares of the stock traded hands, compared to its average volume of 1,303,466. Brown & Brown, Inc. has a twelve month low of $66.73 and a twelve month high of $106.02. The firm has a market cap of $30.14 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 2.38 and a beta of 0.83. The company’s 50-day simple moving average is $102.45 and its 200-day simple moving average is $93.12. 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 issued its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm earned $0.68 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities research analysts expect that Brown & Brown, Inc. will post 3.68 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently declared 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 was Wednesday, August 7th. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Analyst Ratings Changes

A number of research firms have commented on BRO. Barclays began coverage on Brown & Brown in a report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 target price on the stock. Royal Bank of Canada raised their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Raymond James raised their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Truist Financial raised their price target on Brown & Brown from $104.00 to $112.00 and gave the stock 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 eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.67.

Insider Activity

In other news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares in the company, valued at $8,872,802.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction on 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. 17.02% of the stock is owned by insiders.

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.