Brown & Brown, Inc. $BRO Shares Sold by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC lowered its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 21.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 745,985 shares of the financial services provider’s stock after selling 204,725 shares during the quarter. Brown & Brown accounts for about 1.8% of Clarkston Capital Partners LLC’s portfolio, making the stock its 19th largest position. Clarkston Capital Partners LLC owned 0.23% of Brown & Brown worth $82,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BRO. Access Investment Management LLC purchased a new stake in shares of Brown & Brown during the second quarter worth approximately $1,109,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Brown & Brown by 30.6% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 760,893 shares of the financial services provider’s stock worth $84,360,000 after acquiring an additional 178,082 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Brown & Brown during the 1st quarter worth approximately $3,043,000. Caitlin John LLC purchased a new stake in shares of Brown & Brown in the 2nd quarter valued at approximately $1,432,000. Finally, Jump Financial LLC raised its holdings in shares of Brown & Brown by 737.8% in the 1st quarter. Jump Financial LLC now owns 99,222 shares of the financial services provider’s stock valued at $12,343,000 after purchasing an additional 87,379 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Stock Down 0.0%

Shares of NYSE BRO opened at $80.49 on Friday. The business has a 50-day moving average price of $86.45 and a 200 day moving average price of $97.06. The stock has a market cap of $27.48 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The company has a quick ratio of 6.72, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. Brown & Brown, Inc. has a 52-week low of $76.17 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The firm’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th were paid a dividend of $0.165 per share. The ex-dividend date was Wednesday, November 5th. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s dividend payout ratio (DPR) is currently 19.76%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BRO. Citigroup downgraded shares of Brown & Brown from a “buy” rating to a “neutral” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brown & Brown in a research report on Wednesday. Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $92.00 to $79.00 and set an “underperform” rating on the stock in a report on Tuesday, November 4th. Raymond James Financial restated an “outperform” rating on shares of Brown & Brown in a research note on Monday, November 3rd. Finally, Wolfe Research started coverage on Brown & Brown in a report on Thursday, November 20th. They issued a “peer perform” rating for the company. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $102.69.

Brown & Brown Profile

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.