Public Employees Retirement System of Ohio Has $8.74 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Public Employees Retirement System of Ohio reduced its holdings in Brown & Brown, Inc. (NYSE:BRO) by 17.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 99,787 shares of the financial services provider’s stock after selling 21,659 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Brown & Brown were worth $8,735,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC bought a new position in Brown & Brown in the 1st quarter worth approximately $32,000. Park Place Capital Corp raised its stake in Brown & Brown by 166.5% during the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 318 shares during the last quarter. Alaska Permanent Fund Corp bought a new stake in Brown & Brown in the 1st quarter valued at $36,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Brown & Brown by 174.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 348 shares during the period. Finally, First PREMIER Bank bought a new stake in Brown & Brown in the 1st quarter valued at $40,000. 71.01% of the stock is currently owned by institutional investors.

Insider Transactions at Brown & Brown

In other news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $89.92, for a total transaction of $301,232.00. Following the completion of the sale, the executive vice president now owns 23,597 shares in the company, valued at approximately $2,121,842.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 17.02% of the stock is owned by corporate insiders.

Brown & Brown Price Performance

BRO traded up $0.84 during midday trading on Tuesday, hitting $99.50. The company had a trading volume of 35,865 shares, compared to its average volume of 1,257,676. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market capitalization of $28.38 billion, a PE ratio of 30.36, a P/E/G ratio of 2.47 and a beta of 0.82. Brown & Brown, Inc. has a twelve month low of $66.73 and a twelve month high of $99.92. The firm’s 50-day simple moving average is $91.28 and its 200-day simple moving average is $85.63.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.05. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 EPS. Equities research analysts predict that Brown & Brown, Inc. will post 3.67 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, August 7th. Brown & Brown’s dividend payout ratio is 16.00%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BRO shares. Keefe, Bruyette & Woods increased their price target on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a report on Friday. Truist Financial increased their price target on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company increased their price target on shares of Brown & Brown from $88.00 to $94.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday. Finally, Citigroup increased their price target on shares of Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and an average target price of $97.40.

About Brown & Brown

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.