Mutual of America Capital Management LLC Lowers Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Mutual of America Capital Management LLC trimmed its position in Brown & Brown, Inc. (NYSE:BRO) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,869 shares of the financial services provider’s stock after selling 2,695 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Brown & Brown were worth $3,120,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Capital Advisors Group LLC. purchased a new stake in shares of Brown & Brown in the second quarter worth about $26,000. Fortitude Family Office LLC bought a new position in shares of Brown & Brown in the fourth quarter worth approximately $31,000. Quilter Plc bought a new position in shares of Brown & Brown in the first quarter worth approximately $438,906,000. Clear Street Markets LLC increased its position in shares of Brown & Brown by 93.7% in the first quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 223 shares during the last quarter. Finally, Park Place Capital Corp increased its position 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 purchasing an additional 318 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction that occurred 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 completion of the sale, the chairman now owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 17.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BRO. UBS Group upped their price objective on shares of Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th. Truist Financial upped their price objective on shares of Brown & Brown from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Citigroup increased their price target on shares of Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Raymond James increased their price target on shares of Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $86.80.

Brown & Brown Stock Performance

NYSE:BRO opened at $80.62 on Thursday. The firm has a market cap of $23.00 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. Brown & Brown, Inc. has a fifty-two week low of $59.91 and a fifty-two week high of $87.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95. The business has a 50 day moving average price of $84.18 and a 200-day moving average price of $76.60.

Brown & Brown (NYSE:BRO) last released 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. The firm had revenue of $1.03 billion during the quarter. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. During the same period last year, the company posted $0.50 EPS. Equities research analysts predict that Brown & Brown, Inc. will post 3.44 earnings per share for the current year.

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.