Brown & Brown, Inc. $BRO Shares Sold by ABN Amro Investment Solutions

ABN Amro Investment Solutions lessened its stake in Brown & Brown, Inc. (NYSE:BRO) by 3.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 433,697 shares of the financial services provider’s stock after selling 13,512 shares during the period. ABN Amro Investment Solutions owned 0.13% of Brown & Brown worth $40,676,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Darwin Wealth Management LLC acquired a new position in shares of Brown & Brown during the second quarter valued at approximately $30,000. Cornerstone Planning Group LLC boosted its stake in Brown & Brown by 423.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Motco acquired a new position in shares of Brown & Brown during the 2nd quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Brown & Brown in the 2nd quarter worth $49,000. Finally, Evelyn Partners Investment Management LLP acquired a new stake in shares of Brown & Brown in the second quarter valued at $52,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Trading Down 1.5%

Shares of NYSE BRO opened at $68.47 on Friday. The company has a current ratio of 1.67, a quick ratio of 2.10 and a debt-to-equity ratio of 0.55. Brown & Brown, Inc. has a one year low of $65.68 and a one year high of $125.68. The business has a 50-day moving average price of $77.38 and a two-hundred day moving average price of $85.05. The firm has a market capitalization of $23.38 billion, a PE ratio of 21.40, a PEG ratio of 2.07 and a beta of 0.79.

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

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio (DPR) is 20.63%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BRO shares. UBS Group reaffirmed a “neutral” rating and set a $81.00 target price (down from $90.00) on shares of Brown & Brown in a report on Thursday, January 29th. Raymond James Financial restated an “outperform” rating on shares of Brown & Brown in a report on Monday, November 3rd. Truist Financial cut their price objective on Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. JPMorgan Chase & Co. assumed coverage on Brown & Brown in a research note on Thursday, December 18th. They set a “neutral” rating and a $91.00 price objective for the company. Finally, BMO Capital Markets reduced their target price on Brown & Brown from $88.00 to $81.00 and set a “market perform” rating for the company in a report on Thursday, January 29th. Three equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $90.36.

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.