Federated Hermes Inc. Lowers Stock Holdings in Brown & Brown, Inc. $BRO

Federated Hermes Inc. lessened its position in Brown & Brown, Inc. (NYSE:BRO) by 93.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,911 shares of the financial services provider’s stock after selling 199,190 shares during the quarter. Federated Hermes Inc.’s holdings in Brown & Brown were worth $1,305,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Access Investment Management LLC acquired a new position in Brown & Brown in the second quarter valued at approximately $1,109,000. Invesco Ltd. lifted its position in shares of Brown & Brown by 1.1% during the 2nd quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock worth $461,925,000 after buying an additional 46,235 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of 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 buying an additional 178,082 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Brown & Brown in the 2nd quarter valued at $1,635,000. Finally, Schwartz Investment Counsel Inc. grew its position in shares of Brown & Brown by 2.6% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 532,400 shares of the financial services provider’s stock valued at $49,934,000 after buying an additional 13,250 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Down 1.9%

BRO opened at $72.65 on Friday. Brown & Brown, Inc. has a 52 week low of $70.45 and a 52 week high of $125.68. The business has a 50 day moving average price of $78.67 and a two-hundred day moving average price of $86.51. The company has a quick ratio of 2.10, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. The company has a market cap of $24.80 billion, a PE ratio of 22.70, a P/E/G ratio of 2.24 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was up 35.7% compared to the same quarter last year. As a group, research analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Brown & Brown’s dividend payout ratio is presently 20.63%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BRO. Morgan Stanley reduced their price target on shares of Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, January 29th. Citigroup cut Brown & Brown from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Wolfe Research initiated coverage on Brown & Brown in a report on Thursday, November 20th. They issued a “peer perform” rating for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Brown & Brown in a research report on Monday, December 29th. Finally, Wells Fargo & Company dropped their price target on Brown & Brown from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and a consensus price target of $90.64.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.