Northern Trust Corp Has $157.61 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Northern Trust Corp lessened its position in Brown & Brown, Inc. (NYSE:BROFree Report) by 3.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,216,417 shares of the financial services provider’s stock after selling 69,094 shares during the period. Northern Trust Corp owned approximately 0.78% of Brown & Brown worth $157,609,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of BRO. Fortitude Family Office LLC purchased a new position in Brown & Brown in the fourth quarter worth $31,000. Park Place Capital Corp boosted its position in 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. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Brown & Brown by 174.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 348 shares during the last quarter. Mendota Financial Group LLC purchased a new position in Brown & Brown in the fourth quarter worth $42,000. Finally, Orion Capital Management LLC purchased a new position in Brown & Brown in the third quarter worth $56,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

BRO has been the topic of several research reports. Citigroup boosted their target price on Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Bank of America upgraded Brown & Brown from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $91.00 to $101.00 in a research note on Wednesday, May 22nd. Wells Fargo & Company boosted their price objective on Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods boosted their price objective on Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada boosted their price objective on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and an average price target of $89.40.

Check Out Our Latest Research Report on Brown & Brown

Insider Transactions at Brown & Brown

In other news, EVP Julie Turpin sold 3,350 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following the completion of the transaction, the executive vice president now directly owns 23,597 shares in the company, valued at approximately $2,121,842.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.43% of the company’s stock.

Brown & Brown Price Performance

Brown & Brown stock opened at $89.64 on Tuesday. Brown & Brown, Inc. has a 52 week low of $63.37 and a 52 week high of $91.70. The business has a 50-day simple moving average of $85.73 and a 200 day simple moving average of $80.85. 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 stock has a market cap of $25.57 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 2.37 and a beta of 0.82.

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

Brown & Brown Announces Dividend

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

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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