Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 513,080 shares of the financial services provider’s stock after selling 9,711 shares during the period. Rhumbline Advisers’ holdings in Brown & Brown were worth $52,344,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC increased its stake in Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after purchasing an additional 371,980 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Brown & Brown by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock worth $136,302,000 after acquiring an additional 17,934 shares in the last quarter. FMR LLC increased its position in shares of Brown & Brown by 42.4% in the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after acquiring an additional 330,661 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Brown & Brown by 6.2% during the third quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider’s stock valued at $80,749,000 after acquiring an additional 45,766 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Brown & Brown by 5.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 689,556 shares of the financial services provider’s stock valued at $71,438,000 after acquiring an additional 33,440 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Down 0.4 %

NYSE BRO opened at $110.50 on Tuesday. The stock’s 50 day simple moving average is $104.64 and its 200 day simple moving average is $105.19. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.73. The firm has a market cap of $31.60 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $114.15.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, sell-side analysts forecast that Brown & Brown, Inc. will post 4.15 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BRO. Truist Financial increased their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays increased their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Finally, StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $113.17.

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.