Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Blue Trust Inc.

Blue Trust Inc. cut its holdings in Brown & Brown, Inc. (NYSE:BRO) by 38.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 897 shares of the financial services provider’s stock after selling 567 shares during the period. Blue Trust Inc.’s holdings in Brown & Brown were worth $92,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after purchasing an additional 371,980 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Brown & Brown by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock worth $136,302,000 after purchasing an additional 17,934 shares during the last quarter. FMR LLC grew its holdings in shares of Brown & Brown by 42.4% during the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after purchasing an additional 330,661 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Brown & Brown by 6.2% during the third quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider’s stock worth $80,749,000 after purchasing an additional 45,766 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Brown & Brown by 5.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 689,556 shares of the financial services provider’s stock worth $71,438,000 after purchasing an additional 33,440 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BRO has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Morgan Stanley assumed coverage on Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. Royal Bank of Canada raised their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Bank of America raised their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Truist Financial raised their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Price Performance

Shares of BRO opened at $111.65 on Friday. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $114.15. The stock’s 50 day moving average is $105.28 and its two-hundred day moving average is $105.49. The firm has a market capitalization of $31.92 billion, a PE ratio of 32.27, a P/E/G ratio of 2.93 and a beta of 0.86. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

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.