CIBC Asset Management Inc Sells 21,708 Shares of Brown & Brown, Inc. $BRO

CIBC Asset Management Inc cut its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 21.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,260 shares of the financial services provider’s stock after selling 21,708 shares during the period. CIBC Asset Management Inc’s holdings in Brown & Brown were worth $7,246,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Brown & Brown by 16.8% during the second quarter. Vanguard Group Inc. now owns 35,625,322 shares of the financial services provider’s stock valued at $3,949,779,000 after purchasing an additional 5,124,203 shares in the last quarter. State Street Corp raised its position in shares of Brown & Brown by 11.3% during the 2nd quarter. State Street Corp now owns 12,460,821 shares of the financial services provider’s stock valued at $1,381,531,000 after buying an additional 1,262,139 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Brown & Brown by 16.6% during the 2nd quarter. Geode Capital Management LLC now owns 7,369,576 shares of the financial services provider’s stock valued at $813,624,000 after purchasing an additional 1,050,350 shares during the last quarter. Invesco Ltd. increased its position in Brown & Brown by 1.1% during the second quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock valued at $461,925,000 after acquiring an additional 46,235 shares during the last quarter. Finally, Norges Bank bought a new position in Brown & Brown during the 2nd quarter valued at about $433,740,000. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Truist Financial reduced their price target on shares of Brown & Brown from $114.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Brown & Brown in a report on Monday, December 29th. Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a research note on Monday, November 3rd. UBS Group lowered their target price on Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Finally, Bank of America reiterated a “neutral” rating and issued a $97.00 price target (down from $135.00) on shares of Brown & Brown in a report on Monday, November 3rd. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $98.67.

Brown & Brown Stock Performance

Shares of BRO opened at $79.64 on Tuesday. Brown & Brown, Inc. has a 12 month low of $76.17 and a 12 month high of $125.68. The stock has a fifty day moving average price of $79.86 and a 200-day moving average price of $88.11. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.62. The firm has a market cap of $27.19 billion, a PE ratio of 23.85, a P/E/G ratio of 1.85 and a beta of 0.81.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.65 billion. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. Equities research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced 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. This represents a $0.66 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, February 4th. Brown & Brown’s payout ratio is currently 19.76%.

Trending Headlines about Brown & Brown

Here are the key news stories impacting Brown & Brown this week:

• Positive Sentiment: Q4 total revenues jumped to ~$1.6B (≈+35.7% YoY) and full-year revenues rose to ~$5.9B, driven largely by the Accession acquisition — a clear top-line catalyst. GlobeNewswire release
• Positive Sentiment: Management’s adjusted metric beat: Diluted Net Income Per Share — Adjusted was $0.93, topping the consensus (~$0.91) and supporting the view that underlying operations expanded. Zacks: earnings beat
• Positive Sentiment: EBITDAC and adjusted EBITDAC rose materially (Q4 and FY), and adjusted EBITDAC margin expanded — signaling improved operating performance on an adjusted basis. Quiver summary
• Neutral Sentiment: Reuters and other outlets note growth in commissions/fees as the driver of the profit increase — useful confirmation but largely reiterative of the release. Reuters: profit rise
• Neutral Sentiment: Analyst coverage remains mixed (recent buys and an underperform); median 6‑month target ~ $90 — watch for post-release updates that could move estimates. Benzinga: analyst note
• Negative Sentiment: GAAP diluted EPS of $0.59 missed the consensus and fell ~19% YoY — the headline EPS shortfall tempers the positive adjusted message and likely prompted some profit‑taking. Quiver: EPS miss
• Negative Sentiment: Organic revenue declined ~2.8% in Q4 and income‑before‑tax margin contracted (20.0% vs 23.2% prior year), raising questions about core underlying growth absent acquisitions. GlobeNewswire: organic decline
• Negative Sentiment: Balance-sheet effects: long‑term debt rose substantially after acquisition financing (and cash used for the Accession transaction was large) — watch leverage and interest expense as potential headwinds. GlobeNewswire: balance sheet
• Negative Sentiment: Management team news: the company announced the passing of Chief Legal Officer Robert Mathis — operationally low impact but a leadership change to monitor. GlobeNewswire: CL officer passing

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.