Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. reduced its holdings in Brown & Brown, Inc. (NYSE:BROFree Report) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,987 shares of the financial services provider’s stock after selling 389 shares during the period. Crossmark Global Holdings Inc.’s holdings in Brown & Brown were worth $1,564,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in Brown & Brown by 2.4% in the fourth quarter. Principal Financial Group Inc. now owns 12,325,905 shares of the financial services provider’s stock valued at $876,495,000 after purchasing an additional 294,143 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Brown & Brown by 0.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,236,392 shares of the financial services provider’s stock worth $372,360,000 after acquiring an additional 29,514 shares during the last quarter. Norges Bank acquired a new stake in shares of Brown & Brown in the fourth quarter worth approximately $217,663,000. Northern Trust Corp boosted its stake in shares of Brown & Brown by 6.1% in the third quarter. Northern Trust Corp now owns 2,285,511 shares of the financial services provider’s stock worth $159,620,000 after acquiring an additional 130,647 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Brown & Brown by 76.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,000,227 shares of the financial services provider’s stock worth $142,236,000 after acquiring an additional 865,082 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the sale, the chairman now owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the sale, the chairman now owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following the transaction, the executive vice president now directly owns 23,597 shares of the company’s stock, valued at $2,121,842.24. The disclosure for this sale can be found here. Company insiders own 17.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BRO shares. Royal Bank of Canada lifted their price target on Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research note on Wednesday, May 29th. Wells Fargo & Company lifted their price target on Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Bank of America raised Brown & Brown from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $91.00 to $101.00 in a research note on Wednesday, May 22nd. Finally, Keefe, Bruyette & Woods lifted their price objective on Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $89.40.

View Our Latest Report on Brown & Brown

Brown & Brown Price Performance

NYSE:BRO opened at $90.28 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $25.75 billion, a P/E ratio of 27.78, a P/E/G ratio of 2.37 and a beta of 0.82. Brown & Brown, Inc. has a 52 week low of $63.02 and a 52 week high of $91.70. The stock’s fifty day moving average is $85.66 and its two-hundred day moving average is $80.70.

Brown & Brown (NYSE:BROGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.07. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. Equities analysts expect that Brown & Brown, Inc. will post 3.61 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were issued a $0.13 dividend. The ex-dividend date was Friday, May 3rd. This represents a $0.52 annualized dividend and a dividend yield of 0.58%. Brown & Brown’s dividend payout ratio is presently 16.00%.

Brown & Brown Company Profile

(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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