Next Level Private LLC Sells 681 Shares of Brown & Brown, Inc. (NYSE:BRO)

Next Level Private LLC trimmed its stake in Brown & Brown, Inc. (NYSE:BRO) by 9.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,514 shares of the financial services provider’s stock after selling 681 shares during the period. Next Level Private LLC’s holdings in Brown & Brown were worth $463,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BRO. Clear Street Markets LLC boosted its stake in shares of Brown & Brown by 93.7% in the first quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock worth $26,000 after buying an additional 223 shares during the last quarter. First Capital Advisors Group LLC. acquired a new position in shares of Brown & Brown during the second quarter valued at approximately $26,000. West Tower Group LLC acquired a new position in shares of Brown & Brown during the second quarter valued at approximately $27,000. Fortitude Family Office LLC acquired a new position in shares of Brown & Brown during the fourth quarter valued at approximately $31,000. Finally, GPS Wealth Strategies Group LLC increased its holdings in shares of Brown & Brown by 150.6% in the third quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 354 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BRO shares. Raymond James raised their target price on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday. Royal Bank of Canada raised their price target on Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. StockNews.com upgraded Brown & Brown from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th. Jefferies Financial Group lowered Brown & Brown from a “buy” rating to a “hold” rating and lowered their price target for the stock from $85.00 to $78.00 in a research report on Tuesday, January 9th. Finally, Truist Financial boosted their target price on Brown & Brown from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $84.90.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the sale, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.02% of the stock is owned by company insiders.

Brown & Brown Trading Up 0.1 %

NYSE:BRO opened at $87.31 on Thursday. The stock has a 50-day simple moving average of $82.10 and a 200-day simple moving average of $75.37. The stock has a market cap of $24.91 billion, a P/E ratio of 28.52, a P/E/G ratio of 2.89 and a beta of 0.78. Brown & Brown, Inc. has a 1 year low of $55.99 and a 1 year high of $87.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95.

Brown & Brown (NYSE:BRO) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. The business had revenue of $1.03 billion during the quarter. During the same period in the previous year, the firm posted $0.50 earnings per share. As a group, analysts anticipate that Brown & Brown, Inc. will post 3.29 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.60%. The ex-dividend date was Thursday, February 1st. Brown & Brown’s dividend payout ratio is presently 16.99%.

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.