Private Trust Co. NA Lowers Position in Brown & Brown, Inc. (NYSE:BRO)

Private Trust Co. NA lowered its stake in Brown & Brown, Inc. (NYSE:BROGet Rating) by 71.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,792 shares of the financial services provider’s stock after selling 9,704 shares during the quarter. Private Trust Co. NA’s holdings in Brown & Brown were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Heartland Bank & Trust Co raised its stake in Brown & Brown by 18.8% during the 1st quarter. Heartland Bank & Trust Co now owns 10,057 shares of the financial services provider’s stock worth $727,000 after acquiring an additional 1,593 shares during the period. Strategy Asset Managers LLC purchased a new position in shares of Brown & Brown during the 1st quarter valued at $648,000. Contravisory Investment Management Inc. bought a new position in Brown & Brown in the 1st quarter worth $487,000. DNB Asset Management AS increased its stake in Brown & Brown by 3.6% in the 1st quarter. DNB Asset Management AS now owns 36,293 shares of the financial services provider’s stock worth $2,623,000 after buying an additional 1,261 shares in the last quarter. Finally, First Hawaiian Bank raised its holdings in Brown & Brown by 25.5% during the first quarter. First Hawaiian Bank now owns 23,080 shares of the financial services provider’s stock valued at $1,668,000 after acquiring an additional 4,686 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on BRO. UBS Group began coverage on Brown & Brown in a research report on Monday, April 18th. They set a “neutral” rating and a $76.00 target price for the company. StockNews.com assumed coverage on shares of Brown & Brown in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Truist Financial upped their target price on shares of Brown & Brown from $77.00 to $82.00 in a research report on Thursday, April 21st. Finally, Morgan Stanley reduced their price target on shares of Brown & Brown from $70.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, May 23rd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $70.88.

BRO stock opened at $57.29 on Friday. Brown & Brown, Inc. has a 52 week low of $52.18 and a 52 week high of $74.00. The firm has a market capitalization of $16.17 billion, a P/E ratio of 26.77 and a beta of 0.81. The company has a fifty day simple moving average of $59.48 and a two-hundred day simple moving average of $64.91. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 0.81.

Brown & Brown (NYSE:BROGet Rating) last announced its quarterly earnings results on Monday, April 25th. The financial services provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. Brown & Brown had a net margin of 19.35% and a return on equity of 15.53%. The firm had revenue of $904.70 million during the quarter, compared to the consensus estimate of $892.56 million. During the same quarter last year, the firm earned $0.70 EPS. As a group, analysts anticipate that Brown & Brown, Inc. will post 2.28 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 18th. Stockholders of record on Monday, May 9th were issued a $0.102 dividend. This represents a $0.41 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Friday, May 6th. Brown & Brown’s dividend payout ratio (DPR) is 19.16%.

In other news, Director Lawrence L. Gellerstedt III purchased 1,670 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were bought at an average cost of $59.99 per share, for a total transaction of $100,183.30. Following the acquisition, the director now owns 7,727 shares of the company’s stock, valued at approximately $463,542.73. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hugh M. Brown acquired 824 shares of Brown & Brown stock in a transaction that occurred on Thursday, May 5th. The stock was purchased at an average cost of $59.66 per share, for a total transaction of $49,159.84. Following the completion of the transaction, the director now directly owns 49,452 shares in the company, valued at $2,950,306.32. The disclosure for this purchase can be found here. In the last three months, insiders have bought 4,294 shares of company stock worth $248,253. Corporate insiders own 17.02% of the company’s stock.

Brown & Brown Company Profile (Get Rating)

Brown & Brown, Inc markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services.

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