Brown & Brown, Inc. (NYSE:BRO) Stake Reduced by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC reduced its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,485 shares of the financial services provider’s stock after selling 3,367 shares during the quarter. Motley Fool Asset Management LLC owned about 0.05% of Brown & Brown worth $10,559,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BRO. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Brown & Brown by 10.2% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,522 shares of the financial services provider’s stock worth $464,000 after purchasing an additional 602 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in shares of Brown & Brown in the fourth quarter worth $250,000. GAMMA Investing LLC bought a new position in shares of Brown & Brown in the fourth quarter worth $184,000. Wedge Capital Management L L P NC lifted its holdings in shares of Brown & Brown by 26.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 89,992 shares of the financial services provider’s stock valued at $6,399,000 after buying an additional 19,021 shares during the period. Finally, Brendel Financial Advisors LLC acquired a new stake in shares of Brown & Brown in the fourth quarter valued at $3,311,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Up 0.2 %

Brown & Brown stock traded up $0.14 during mid-day trading on Thursday, hitting $82.27. The company’s stock had a trading volume of 1,608,686 shares, compared to its average volume of 1,345,231. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.95. Brown & Brown, Inc. has a 52-week low of $61.71 and a 52-week high of $87.99. The firm’s 50 day moving average is $84.30 and its 200 day moving average is $77.02. The company has a market cap of $23.47 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm posted $0.84 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. On average, analysts anticipate that Brown & Brown, Inc. will post 3.57 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, May 3rd. Brown & Brown’s payout ratio is currently 16.00%.

Analyst Upgrades and Downgrades

BRO has been the subject of several research analyst reports. The Goldman Sachs Group upgraded Brown & Brown from a “neutral” rating to a “buy” rating and cut their price objective for the company from $84.00 to $83.00 in a report on Monday, January 8th. Citigroup upped their price objective on Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Jefferies Financial Group lowered Brown & Brown from a “buy” rating to a “hold” rating and cut their price objective for the company from $85.00 to $78.00 in a report on Tuesday, January 9th. Royal Bank of Canada upped their price objective on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, Truist Financial upped their target price on Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average target price of $87.10.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the transaction, the chairman now owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.02% of the stock is currently owned by insiders.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.