Clarkston Capital Partners LLC Trims Position in Brown & Brown, Inc. $BRO

Clarkston Capital Partners LLC lessened its holdings in Brown & Brown, Inc. (NYSE:BRO) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 710,070 shares of the financial services provider’s stock after selling 35,915 shares during the period. Brown & Brown comprises approximately 1.4% of Clarkston Capital Partners LLC’s holdings, making the stock its 25th biggest position. Clarkston Capital Partners LLC owned approximately 0.21% of Brown & Brown worth $66,597,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Darwin Wealth Management LLC bought a new stake in shares of Brown & Brown during the second quarter valued at approximately $30,000. Cornerstone Planning Group LLC boosted its position in shares of Brown & Brown by 423.1% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 220 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Brown & Brown during the second quarter valued at $49,000. Evelyn Partners Investment Management LLP purchased a new position in Brown & Brown during the second quarter valued at $52,000. Finally, Generali Investments Management Co LLC bought a new stake in Brown & Brown in the 2nd quarter valued at $60,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Brown & Brown stock opened at $73.48 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The firm has a 50-day moving average of $74.54 and a two-hundred day moving average of $82.54. Brown & Brown, Inc. has a 1 year low of $65.68 and a 1 year high of $125.68.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share 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 during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company posted $0.86 EPS. Brown & Brown’s revenue was up 35.7% on a year-over-year basis. On average, research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s dividend payout ratio (DPR) is 20.63%.

Analyst Ratings Changes

A number of research firms recently commented on BRO. Wells Fargo & Company decreased their target price on Brown & Brown from $82.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Friday, February 13th. Argus upgraded Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. Truist Financial reduced their price objective on Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. JPMorgan Chase & Co. initiated coverage on Brown & Brown in a report on Thursday, December 18th. They set a “neutral” rating and a $91.00 price objective on the stock. Finally, Bank of America lowered their target price on Brown & Brown from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, January 27th. Four equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $90.43.

About Brown & Brown

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.