Brown & Brown, Inc. $BRO Holdings Decreased by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 12.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,452 shares of the financial services provider’s stock after selling 650 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Brown & Brown were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Bares Capital Management Inc. acquired a new position in shares of Brown & Brown in the 1st quarter valued at about $26,000. ST Germain D J Co. Inc. increased its stake in Brown & Brown by 298.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $30,000 after buying an additional 200 shares during the period. SouthState Corp increased its stake in Brown & Brown by 188.6% in the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock valued at $32,000 after buying an additional 166 shares during the period. Motco purchased a new stake in Brown & Brown in the 2nd quarter worth approximately $32,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of Brown & Brown by 1,129.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock valued at $37,000 after buying an additional 305 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Argus reaffirmed a “hold” rating on shares of Brown & Brown in a research note on Thursday, July 31st. Wells Fargo & Company dropped their target price on Brown & Brown from $98.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 29th. Bank of America reaffirmed a “neutral” rating and set a $97.00 price target (down from $135.00) on shares of Brown & Brown in a research note on Monday, November 3rd. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a report on Monday, November 3rd. Finally, Wall Street Zen upgraded Brown & Brown from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $104.08.

Brown & Brown Stock Down 0.9%

BRO opened at $79.97 on Wednesday. The firm has a market cap of $27.30 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.72 and a current ratio of 2.10. The business has a 50 day moving average price of $88.18 and a 200 day moving average price of $98.39. Brown & Brown, Inc. has a twelve month low of $76.17 and a twelve month high of $125.68.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 35.4% compared to the same quarter last year. Research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s dividend payout ratio (DPR) is presently 19.76%.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.