ING Groep NV Sells 1,206 Shares of Brown & Brown, Inc. (NYSE:BRO)

ING Groep NV lessened its position in Brown & Brown, Inc. (NYSE:BRO) by 10.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,727 shares of the financial services provider’s stock after selling 1,206 shares during the period. ING Groep NV’s holdings in Brown & Brown were worth $1,094,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BRO. Creative Planning lifted its position in Brown & Brown by 0.4% in the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after acquiring an additional 112 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Brown & Brown by 166.2% in the third quarter. Blue Trust Inc. now owns 1,464 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 914 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Brown & Brown by 26.1% during the third quarter. Private Advisor Group LLC now owns 7,467 shares of the financial services provider’s stock valued at $774,000 after purchasing an additional 1,544 shares in the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of Brown & Brown during the third quarter valued at $228,000. Finally, Legacy Wealth Asset Management LLC increased its holdings in Brown & Brown by 5.9% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 4,190 shares of the financial services provider’s stock worth $434,000 after buying an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $111.65 on Monday. The stock has a market cap of $31.92 billion, a P/E ratio of 32.27, a P/E/G ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The stock’s fifty day moving average is $105.28 and its 200 day moving average is $105.54. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $114.15.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 17.34%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BRO. Keefe, Bruyette & Woods lowered their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company increased their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Truist Financial boosted their target price 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. Finally, Bank of America raised their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown 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.