Brown & Brown, Inc. $BRO Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp lowered its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 12.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 75,382 shares of the financial services provider’s stock after selling 10,557 shares during the quarter. Boston Trust Walden Corp’s holdings in Brown & Brown were worth $4,591,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Equitable Trust Co. lifted its position in Brown & Brown by 1.7% during the 1st quarter. Equitable Trust Co. now owns 10,901 shares of the financial services provider’s stock worth $711,000 after acquiring an additional 182 shares in the last quarter. CX Institutional grew its position in Brown & Brown by 3.1% in the third quarter. CX Institutional now owns 6,242 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 189 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Brown & Brown by 0.9% during the first quarter. Cetera Investment Advisers now owns 36,804 shares of the financial services provider’s stock valued at $2,400,000 after purchasing an additional 311 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Brown & Brown by 39.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,288 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 364 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Brown & Brown by 14.0% during the first quarter. Parallel Advisors LLC now owns 3,077 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 377 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BRO has been the subject of several recent analyst reports. Barclays lowered their target price on Brown & Brown from $76.00 to $71.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 7th. Mizuho lowered their price objective on Brown & Brown from $83.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. Royal Bank Of Canada restated a “sector perform” rating on shares of Brown & Brown in a report on Wednesday, July 29th. Truist Financial cut their target price on Brown & Brown from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, October 28th. Finally, Citizens Jmp cut their target price on Brown & Brown from $78.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $75.47.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $71.99 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.96 and a quick ratio of 1.96. The firm has a market capitalization of $23.88 billion, a PE ratio of 22.78, a P/E/G ratio of 2.35 and a beta of 0.52. Brown & Brown, Inc. has a 1-year low of $53.81 and a 1-year high of $82.57. The business’s fifty day moving average price is $66.99 and its two-hundred day moving average price is $66.67.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a net margin of 17.63% and a return on equity of 13.29%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $1.05 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts expect that Brown & Brown, Inc. will post 4.44 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 11th. Stockholders of record on Wednesday, November 4th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.1650. The ex-dividend date is Wednesday, November 4th. Brown & Brown’s payout ratio is currently 20.89%.

Brown & Brown Profile

Brown & Brown, Inc is an insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities, individuals and other organizations identify, manage and transfer risk by arranging insurance coverage and providing related advisory services.

Its operations include retail insurance brokerage, national programs, wholesale brokerage and services. Brown & Brown offers property and casualty insurance, employee benefits, personal insurance, surety and other specialized coverage.