Somerset Trust Co Has $405,000 Stake in Brown & Brown, Inc. (NYSE:BRO)

Somerset Trust Co lowered its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,974 shares of the financial services provider’s stock after selling 563 shares during the quarter. Somerset Trust Co’s holdings in Brown & Brown were worth $405,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BRO. Allspring Global Investments Holdings LLC increased its holdings in Brown & Brown by 0.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock worth $405,638,000 after purchasing an additional 28,180 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Brown & Brown by 24.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after buying an additional 687,783 shares in the last quarter. Barclays PLC raised its position in Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after buying an additional 371,980 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Brown & Brown by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,553,396 shares of the financial services provider’s stock valued at $138,899,000 after acquiring an additional 114,688 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in Brown & Brown by 7.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,508,123 shares of the financial services provider’s stock worth $134,841,000 after acquiring an additional 99,155 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Down 0.4 %

Shares of Brown & Brown stock opened at $105.52 on Friday. Brown & Brown, Inc. has a 1 year low of $73.23 and a 1 year high of $114.15. The company has a market capitalization of $30.17 billion, a price-to-earnings ratio of 28.75, a P/E/G ratio of 2.14 and a beta of 0.85. The business has a fifty day simple moving average of $106.32 and a two-hundred day simple moving average of $103.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. 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 company posted $0.71 EPS. Brown & Brown’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts forecast that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently declared 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 an increase from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.57%. Brown & Brown’s payout ratio is 16.35%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BRO shares. Morgan Stanley started coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Argus started coverage on Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Finally, Barclays boosted their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $112.08.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.