Brown & Brown, Inc. (NYSE:BRO) Stock Position Decreased by Forte Capital LLC ADV

Forte Capital LLC ADV cut its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,529 shares of the financial services provider’s stock after selling 435 shares during the quarter. Forte Capital LLC ADV’s holdings in Brown & Brown were worth $7,100,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Royal London Asset Management Ltd. lifted its holdings in shares of Brown & Brown by 105.1% in the second quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock valued at $184,930,000 after purchasing an additional 1,059,711 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Brown & Brown by 24.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock valued at $311,979,000 after purchasing an additional 687,783 shares in the last quarter. Capital World Investors lifted its holdings in shares of Brown & Brown by 50.5% in the first quarter. Capital World Investors now owns 1,413,224 shares of the financial services provider’s stock valued at $123,714,000 after purchasing an additional 473,982 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Brown & Brown by 123.9% in the second quarter. Natixis Advisors LLC now owns 733,668 shares of the financial services provider’s stock valued at $65,597,000 after purchasing an additional 406,064 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Brown & Brown by 392.3% in the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock valued at $42,287,000 after purchasing an additional 376,892 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BRO shares. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Keefe, Bruyette & Woods increased their price objective on Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Jefferies Financial Group increased their price objective on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada increased their price objective on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Argus started coverage on Brown & Brown in a report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $106.50.

Brown & Brown Stock Up 3.1 %

Shares of BRO stock opened at $110.84 on Thursday. Brown & Brown, Inc. has a 12 month low of $69.13 and a 12 month high of $114.08. The firm has a market cap of $31.69 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82. The stock has a 50 day moving average of $104.49 and a 200-day moving average of $96.56. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. On average, equities analysts predict that Brown & Brown, Inc. will post 3.73 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, November 6th. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. Brown & Brown’s payout ratio is currently 14.17%.

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.