Candriam S.C.A. Reduces Stock Holdings in Brown & Brown, Inc. $BRO

Candriam S.C.A. lowered its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 15.6% during the second quarter, Holdings Channel reports. The firm owned 230,393 shares of the financial services provider’s stock after selling 42,650 shares during the period. Candriam S.C.A.’s holdings in Brown & Brown were worth $25,545,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Bares Capital Management Inc. purchased a new position in shares of Brown & Brown in the 1st quarter valued at $26,000. SouthState Corp boosted its stake in Brown & Brown by 188.6% in the first quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 166 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in shares of Brown & Brown by 298.5% during the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Motco acquired a new stake in shares of Brown & Brown during the second quarter worth about $32,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in shares of Brown & Brown by 1,129.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 305 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of BRO opened at $80.02 on Friday. The stock has a market capitalization of $27.32 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.70 and a beta of 0.77. The company’s fifty day moving average is $89.02 and its two-hundred day moving average is $99.19. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.72 and a current ratio of 2.10. Brown & Brown, Inc. has a 1 year low of $76.17 and a 1 year high of $125.68.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The business’s revenue was up 35.4% compared to the same quarter last year. On average, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th were issued a dividend of $0.165 per share. This is a boost from Brown & Brown’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 5th. Brown & Brown’s dividend payout ratio is currently 19.76%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Argus restated a “hold” rating on shares of Brown & Brown in a research note on Thursday, July 31st. Morgan Stanley lowered their target price on shares of Brown & Brown from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Raymond James Financial reaffirmed an “outperform” rating on shares of Brown & Brown in a report on Monday, November 3rd. Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $92.00 to $79.00 and set an “underperform” rating for the company in a research note on Tuesday, November 4th. Finally, Bank of America restated a “neutral” rating and issued a $97.00 price objective (down from $135.00) on shares of Brown & Brown in a research note on Monday, November 3rd. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $105.23.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.