Speece Thorson Capital Group Inc. Sells 323 Shares of Brown & Brown, Inc. (NYSE:BRO)

Speece Thorson Capital Group Inc. reduced its holdings in Brown & Brown, Inc. (NYSE:BRO) by 0.3% during the third quarter, Holdings Channel.com reports. The fund owned 113,881 shares of the financial services provider’s stock after selling 323 shares during the quarter. Brown & Brown accounts for 2.2% of Speece Thorson Capital Group Inc.’s investment portfolio, making the stock its 27th largest holding. Speece Thorson Capital Group Inc.’s holdings in Brown & Brown were worth $11,798,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund increased its position in shares of Brown & Brown by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock valued at $1,819,000 after purchasing an additional 100 shares during the last quarter. Trust Point Inc. boosted its holdings in Brown & Brown by 4.3% during the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 103 shares during the period. Creative Planning boosted its holdings in Brown & Brown by 0.4% during 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 during the period. Crossmark Global Holdings Inc. boosted its holdings in Brown & Brown by 0.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock valued at $2,375,000 after acquiring an additional 113 shares during the period. Finally, Anchor Investment Management LLC boosted its holdings in Brown & Brown by 4.0% during the 2nd quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 125 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Insider Activity at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 16.43% of the stock is owned by corporate insiders.

Brown & Brown Stock Down 0.3 %

Shares of BRO traded down $0.39 on Wednesday, reaching $112.03. The stock had a trading volume of 86,436 shares, compared to its average volume of 1,314,076. The firm has a market capitalization of $32.04 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 2.58 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The company has a 50-day simple moving average of $105.04 and a 200-day simple moving average of $97.49. Brown & Brown, Inc. has a 12-month low of $69.13 and a 12-month high of $114.08.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business posted $0.71 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts predict that Brown & Brown, Inc. will post 3.73 EPS for the current year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, November 6th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Truist Financial increased their target price on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays started coverage on Brown & Brown in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price objective for the company. 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, StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. One 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $106.50.

Brown & Brown Company 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.