Brown & Brown, Inc. $BRO Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. lowered its position in Brown & Brown, Inc. (NYSE:BRO) by 22.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 324,810 shares of the financial services provider’s stock after selling 95,817 shares during the period. APG Asset Management N.V. owned about 0.10% of Brown & Brown worth $30,464,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BRO. Western Wealth Management LLC increased its stake in shares of Brown & Brown by 6.0% during the second quarter. Western Wealth Management LLC now owns 1,902 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 108 shares in the last quarter. ICONIQ Capital LLC boosted its holdings in Brown & Brown by 5.4% in the 2nd quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock worth $234,000 after buying an additional 109 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in Brown & Brown by 2.2% during the 2nd quarter. Kingsview Wealth Management LLC now owns 5,267 shares of the financial services provider’s stock worth $584,000 after buying an additional 114 shares in the last quarter. Freedom Day Solutions LLC raised its holdings in shares of Brown & Brown by 0.7% during the third quarter. Freedom Day Solutions LLC now owns 18,632 shares of the financial services provider’s stock valued at $1,747,000 after acquiring an additional 129 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC lifted its position in shares of Brown & Brown by 4.1% in the third quarter. Baker Tilly Wealth Management LLC now owns 3,330 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 132 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Mizuho raised shares of Brown & Brown from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $84.00 to $85.00 in a research note on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Brown & Brown in a research note on Monday, December 29th. BMO Capital Markets lowered their target price on Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a report on Thursday, January 29th. Citigroup lowered Brown & Brown from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. assumed coverage on Brown & Brown in a report on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price target for the company. Four analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.43.

Brown & Brown Stock Up 0.7%

Shares of NYSE BRO opened at $71.70 on Monday. The stock has a market cap of $24.41 billion, a P/E ratio of 22.41, a PEG ratio of 2.17 and a beta of 0.79. The business’s fifty day simple moving average is $75.34 and its 200-day simple moving average is $83.35. Brown & Brown, Inc. has a 12-month low of $65.68 and a 12-month high of $125.68. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.55.

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

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were issued 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 0.9%. Brown & Brown’s dividend payout ratio (DPR) is currently 20.63%.

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.