Advisory Services Network LLC Cuts Holdings in Brown & Brown, Inc. (NYSE:BRO)

Advisory Services Network LLC reduced its position in Brown & Brown, Inc. (NYSE:BROGet Rating) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,962 shares of the financial services provider’s stock after selling 1,935 shares during the period. Advisory Services Network LLC’s holdings in Brown & Brown were worth $2,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Brown & Brown by 0.5% during the 1st quarter. BlackRock Inc. now owns 19,448,540 shares of the financial services provider’s stock valued at $1,405,544,000 after purchasing an additional 98,905 shares during the period. Select Equity Group L.P. grew its stake in shares of Brown & Brown by 1.4% during the 1st quarter. Select Equity Group L.P. now owns 18,539,433 shares of the financial services provider’s stock valued at $1,339,845,000 after purchasing an additional 263,444 shares during the period. State Street Corp grew its stake in shares of Brown & Brown by 1.0% during the 4th quarter. State Street Corp now owns 12,070,204 shares of the financial services provider’s stock valued at $848,294,000 after purchasing an additional 120,650 shares during the period. Principal Financial Group Inc. grew its stake in shares of Brown & Brown by 8.9% during the 1st quarter. Principal Financial Group Inc. now owns 8,854,266 shares of the financial services provider’s stock valued at $639,898,000 after purchasing an additional 723,275 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Brown & Brown by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 4,873,604 shares of the financial services provider’s stock valued at $341,895,000 after purchasing an additional 405,556 shares during the period. Institutional investors own 72.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Brown & Brown from a “hold” rating to a “buy” rating in a research note on Monday, September 12th. Truist Financial cut their price objective on Brown & Brown from $82.00 to $75.00 in a research note on Monday, July 18th. The Goldman Sachs Group assumed coverage on Brown & Brown in a research note on Tuesday, July 12th. They set a “neutral” rating and a $67.00 price objective for the company. Wells Fargo & Company cut their price objective on Brown & Brown to $66.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Finally, Jefferies Financial Group cut their price objective on Brown & Brown from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Brown & Brown has an average rating of “Moderate Buy” and an average price target of $70.63.

Brown & Brown Trading Up 0.1 %

BRO stock opened at $61.54 on Friday. Brown & Brown, Inc. has a 1-year low of $52.91 and a 1-year high of $74.00. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.90 and a quick ratio of 3.90. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 28.49 and a beta of 0.80. The business has a 50 day simple moving average of $63.76 and a two-hundred day simple moving average of $63.16.

Brown & Brown (NYSE:BROGet Rating) last issued its quarterly earnings data on Monday, July 25th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. The business had revenue of $838.70 million for the quarter, compared to analysts’ expectations of $803.46 million. Brown & Brown had a return on equity of 15.36% and a net margin of 18.86%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Research analysts anticipate that Brown & Brown, Inc. will post 2.31 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 10th were issued a dividend of $0.102 per share. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $0.41 annualized dividend and a dividend yield of 0.66%. Brown & Brown’s dividend payout ratio (DPR) is 18.98%.

Brown & Brown Profile

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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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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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