Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC decreased its position in Brown & Brown, Inc. (NYSE:BROFree Report) by 15.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,302 shares of the financial services provider’s stock after selling 774 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Brown & Brown were worth $306,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. First Capital Advisors Group LLC. acquired a new position in shares of Brown & Brown in the 2nd quarter worth approximately $26,000. West Tower Group LLC acquired a new position in shares of Brown & Brown in the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC acquired a new position in shares of Brown & Brown in the 4th quarter worth approximately $31,000. Quilter Plc acquired a new position in shares of Brown & Brown in the 1st quarter worth approximately $438,906,000. Finally, Clear Street Markets LLC grew its position in shares of Brown & Brown by 93.7% in the 1st quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 223 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.3 %

Shares of Brown & Brown stock opened at $87.54 on Friday. The business’s fifty day moving average price is $82.63 and its two-hundred day moving average price is $75.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $24.98 billion, a P/E ratio of 28.61, a PEG ratio of 2.91 and a beta of 0.78. Brown & Brown, Inc. has a 1-year low of $55.99 and a 1-year high of $87.99.

Brown & Brown (NYSE:BROGet Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. The company had revenue of $1.03 billion for the quarter. During the same quarter last year, the business posted $0.50 earnings per share. As a group, research analysts forecast that Brown & Brown, Inc. will post 3.29 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Thursday, February 1st. Brown & Brown’s dividend payout ratio (DPR) is presently 16.99%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Truist Financial raised their price target on Brown & Brown from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Raymond James raised their price target on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday. UBS Group raised their price target on Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Keefe, Bruyette & Woods raised their price target on Brown & Brown from $70.00 to $75.00 and gave the stock an “underperform” rating in a report on Friday, January 26th. Finally, StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average target price of $84.90.

Read Our Latest Stock Analysis on Brown & Brown

Insider Activity

In other news, Chairman Hyatt J. Brown sold 144,323 shares of Brown & Brown stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the transaction, the chairman now directly owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.02% of the stock is owned by insiders.

About Brown & Brown

(Free Report)

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.

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

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