Kesler Norman & Wride LLC Has $2.31 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Kesler Norman & Wride LLC lessened its stake in Brown & Brown, Inc. (NYSE:BRO) by 14.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,337 shares of the financial services provider’s stock after selling 3,853 shares during the period. Kesler Norman & Wride LLC’s holdings in Brown & Brown were worth $2,314,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its holdings in Brown & Brown by 2.5% in the first 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 acquiring an additional 6,613 shares during the last quarter. Sei Investments Co. grew its position in shares of Brown & Brown by 12.7% during the 1st quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock worth $24,169,000 after buying an additional 31,071 shares during the period. Great Valley Advisor Group Inc. bought a new stake in shares of Brown & Brown during the second quarter worth approximately $1,512,000. DekaBank Deutsche Girozentrale lifted its holdings in Brown & Brown by 12.4% in the first 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 during the period. Finally, Norden Group LLC boosted its stake in Brown & Brown by 2,650.9% in the first quarter. Norden Group LLC now owns 99,856 shares of the financial services provider’s stock valued at $8,741,000 after acquiring an additional 96,226 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

BRO has been the subject of several recent research reports. Royal Bank of Canada upped their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Truist Financial increased their price target on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company raised shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $94.00 to $112.00 in a research note on Monday, August 12th. Barclays assumed coverage on shares of Brown & Brown in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price target on the stock. Finally, UBS Group lifted their target price on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.67.

Brown & Brown Stock Performance

NYSE BRO opened at $102.13 on Tuesday. The firm’s fifty day moving average price is $102.52 and its two-hundred day moving average price is $93.34. Brown & Brown, Inc. has a 1 year low of $66.73 and a 1 year high of $106.02. The firm has a market capitalization of $29.13 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56.

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

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 annualized dividend and a yield of 0.51%. Brown & Brown’s dividend payout ratio is currently 16.00%.

Insiders Place Their Bets

In other news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction that occurred 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 owns 88,445 shares in the company, valued at approximately $8,872,802.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the transaction, the chief financial officer now owns 88,445 shares in the company, valued at $8,872,802.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The disclosure for this sale can be found here. Company 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.