Private Trust Co. NA Sells 145 Shares of Brown & Brown, Inc. (NYSE:BRO)

Private Trust Co. NA lowered its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.3% in the third quarter, Holdings Channel reports. The institutional investor owned 3,265 shares of the financial services provider’s stock after selling 145 shares during the period. Private Trust Co. NA’s holdings in Brown & Brown were worth $338,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Crewe Advisors LLC lifted its position in shares of Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 228 shares during the period. ST Germain D J Co. Inc. lifted its position in Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new position in Brown & Brown in the third quarter worth $29,000. Blue Trust Inc. boosted its stake in Brown & Brown by 142.3% during the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after buying an additional 323 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Brown & Brown by 65.7% in the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after buying an additional 211 shares during the period. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BRO shares. Truist Financial lifted 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. Barclays upped their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Royal Bank of Canada raised their target price on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Bank of America lifted their price objective on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. One research 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, Brown & Brown presently has an average rating of “Hold” and an average price target of $107.42.

Brown & Brown Stock Down 0.2 %

Shares of NYSE:BRO opened at $113.20 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The firm has a market cap of $32.37 billion, a P/E ratio of 30.84, a P/E/G ratio of 2.57 and a beta of 0.82. Brown & Brown, Inc. has a 12 month low of $69.13 and a 12 month high of $114.15. The company’s 50-day moving average price is $106.52 and its two-hundred day moving average price is $99.38.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. Brown & Brown’s revenue was up 11.0% compared to the same quarter last year. As a group, research analysts forecast that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.53%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is presently 16.35%.

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.