Nisa Investment Advisors LLC Has $4.86 Million Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Nisa Investment Advisors LLC trimmed its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 7.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 68,287 shares of the financial services provider’s stock after selling 5,568 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Brown & Brown were worth $4,856,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Clear Street Markets LLC boosted its position in shares of Brown & Brown by 93.7% during the 1st quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 223 shares in the last quarter. First Capital Advisors Group LLC. purchased a new stake in Brown & Brown in the second quarter worth $26,000. Fortitude Family Office LLC bought a new position in shares of Brown & Brown in the fourth quarter worth $31,000. Park Place Capital Corp boosted its holdings in shares of Brown & Brown by 166.5% in the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 318 shares during the period. Finally, GPS Wealth Strategies Group LLC boosted its stake in Brown & Brown by 150.6% during the third quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock valued at $41,000 after buying an additional 354 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Trading Down 1.1 %

Shares of Brown & Brown stock opened at $82.65 on Friday. The company has a market capitalization of $23.58 billion, a P/E ratio of 27.01, a PEG ratio of 2.67 and a beta of 0.78. The company’s fifty day moving average is $83.95 and its two-hundred day moving average is $76.28. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95. Brown & Brown, Inc. has a 1 year low of $58.05 and a 1 year high of $87.99.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. The business had revenue of $1.03 billion during the quarter. During the same period in the prior year, the firm earned $0.50 EPS. Analysts forecast that Brown & Brown, Inc. will post 3.44 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.52 annualized dividend and a dividend yield of 0.63%. Brown & Brown’s dividend payout ratio (DPR) is 16.99%.

Wall Street Analysts Forecast Growth

BRO has been the topic of several analyst reports. Wells Fargo & Company lifted their price objective on Brown & Brown from $81.00 to $84.00 and gave the stock an “equal weight” rating in a report on Thursday. Truist Financial lifted their price objective on Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Raymond James lifted their price objective on Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada boosted their price target on Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Finally, Jefferies Financial Group cut Brown & Brown from a “buy” rating to a “hold” rating and lowered their price objective for the company from $85.00 to $78.00 in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and an average price target of $85.70.

Insider Buying and Selling at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the transaction, the chairman now owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 17.02% of the company’s stock.

About Brown & Brown

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.