Oppenheimer Asset Management Inc. Has $2.84 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 9.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,404 shares of the financial services provider’s stock after selling 2,724 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Brown & Brown were worth $2,839,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. MQS Management LLC bought a new position in shares of Brown & Brown in the third quarter worth about $874,000. Victory Capital Management Inc. lifted its holdings in Brown & Brown by 0.4% during the 3rd quarter. Victory Capital Management Inc. now owns 253,895 shares of the financial services provider’s stock worth $26,304,000 after buying an additional 956 shares in the last quarter. Aigen Investment Management LP bought a new position in Brown & Brown in the 3rd quarter valued at $548,000. Ashton Thomas Private Wealth LLC increased its stake in shares of Brown & Brown by 8.8% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,648 shares of the financial services provider’s stock valued at $274,000 after buying an additional 215 shares during the period. Finally, WealthPlan Investment Management LLC raised its position in shares of Brown & Brown by 5.5% during the third quarter. WealthPlan Investment Management LLC now owns 109,324 shares of the financial services provider’s stock worth $11,326,000 after acquiring an additional 5,709 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 17.02% of the company’s stock.

Brown & Brown Trading Up 0.5 %

NYSE BRO opened at $110.05 on Friday. Brown & Brown, Inc. has a one year low of $69.13 and a one year high of $114.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market cap of $31.47 billion, a P/E ratio of 29.99, a P/E/G ratio of 2.58 and a beta of 0.82. The stock’s 50-day moving average is $105.38 and its 200-day moving average is $97.98.

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

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. Brown & Brown’s dividend payout ratio is presently 16.35%.

Wall Street Analysts Forecast Growth

BRO has been the subject of a number of research reports. Jefferies Financial Group lifted their price objective on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Argus began coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price for the company. Truist Financial upped their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised their price target on Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus price target of $106.50.

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.