Park National Corp OH Sells 200 Shares of Brown & Brown, Inc. (NYSE:BRO)

Park National Corp OH decreased its position in Brown & Brown, Inc. (NYSE:BRO) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,800 shares of the financial services provider’s stock after selling 200 shares during the period. Park National Corp OH’s holdings in Brown & Brown were worth $5,285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sanctuary Advisors LLC lifted its position in shares of Brown & Brown by 4.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock valued at $18,104,000 after buying an additional 6,805 shares during the last quarter. Quantbot Technologies LP bought a new stake in Brown & Brown in the 3rd quarter valued at about $9,832,000. Charles Schwab Investment Management Inc. lifted its holdings in Brown & Brown by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after purchasing an additional 17,934 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Brown & Brown by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,553,396 shares of the financial services provider’s stock worth $138,899,000 after purchasing an additional 114,688 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Brown & Brown by 48.3% in the third quarter. Thrivent Financial for Lutherans now owns 235,617 shares of the financial services provider’s stock worth $24,410,000 after purchasing an additional 76,694 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on BRO shares. Truist Financial upped their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays increased their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Argus assumed coverage on Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price target for the company. Jefferies Financial Group boosted their price objective on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Brown & Brown currently has an average rating of “Moderate Buy” and an average price target of $109.46.

Brown & Brown Stock Performance

NYSE:BRO opened at $101.02 on Wednesday. The stock has a market cap of $28.89 billion, a P/E ratio of 27.53, a PEG ratio of 2.40 and a beta of 0.85. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average price is $106.97 and its two-hundred day moving average price is $102.62. Brown & Brown, Inc. has a twelve month low of $70.89 and a twelve month high of $114.15.

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

Brown & Brown Increases Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.59%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

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.