Brown & Brown, Inc. (NYSE:BRO) Stock Holdings Decreased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 13.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 40,450 shares of the financial services provider’s stock after selling 6,074 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Brown & Brown were worth $4,191,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BRO. Edgestream Partners L.P. grew its position in shares of Brown & Brown by 6.4% in the 3rd quarter. Edgestream Partners L.P. now owns 21,650 shares of the financial services provider’s stock worth $2,243,000 after acquiring an additional 1,309 shares in the last quarter. Verition Fund Management LLC lifted its stake in Brown & Brown by 23.8% during the third quarter. Verition Fund Management LLC now owns 5,944 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 1,143 shares during the last quarter. Captrust Financial Advisors increased its stake in Brown & Brown by 4.6% during the third quarter. Captrust Financial Advisors now owns 49,835 shares of the financial services provider’s stock valued at $5,163,000 after purchasing an additional 2,211 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Brown & Brown by 1.6% during the third quarter. Rockefeller Capital Management L.P. now owns 18,825 shares of the financial services provider’s stock worth $1,950,000 after purchasing an additional 290 shares during the period. Finally, Walleye Capital LLC lifted its position in shares of Brown & Brown by 346.3% in the 3rd quarter. Walleye Capital LLC now owns 15,518 shares of the financial services provider’s stock worth $1,608,000 after buying an additional 12,041 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Down 0.2 %

Brown & Brown stock opened at $111.38 on Wednesday. Brown & Brown, Inc. has a 12-month low of $69.13 and a 12-month high of $114.15. The stock has a market capitalization of $31.85 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The firm has a 50 day simple moving average of $107.55 and a 200-day simple moving average of $100.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.71 EPS. As a group, equities research analysts expect that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.15 per share. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BRO shares. Royal Bank of Canada increased their price objective on shares of Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price target on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Bank of America upped their price objective on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their target price on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Truist Financial increased their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and a consensus price target of $107.42.

Brown & Brown 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.