121,085 Brown & Brown, Inc. $BRO Shares Bought by Keybank National Association OH

Keybank National Association OH lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 31.4% in the 3rd quarter, Holdings Channel reports. The fund owned 507,271 shares of the financial services provider’s stock after buying an additional 121,085 shares during the period. Keybank National Association OH’s holdings in Brown & Brown were worth $31,232,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BRO. Westside Investment Management Inc. increased its holdings in shares of Brown & Brown by 84.7% in the 3rd quarter. Westside Investment Management Inc. now owns 399 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 183 shares during the period. Allied Private Wealth LLC bought a new stake in Brown & Brown in the 2nd quarter valued at about $35,000. Continuum Advisory LLC bought a new stake in Brown & Brown in the 2nd quarter valued at about $34,000. Johnson Financial Group Inc. acquired a new position in Brown & Brown during the 2nd quarter valued at about $37,000. Finally, Manchester Capital Management LLC boosted its stake in Brown & Brown by 853.3% during the 3rd quarter. Manchester Capital Management LLC now owns 572 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 512 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on BRO. Citigroup decreased their target price on shares of Brown & Brown from $79.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, October 28th. TD Cowen initiated coverage on shares of Brown & Brown in a research note on Monday, October 12th. They issued a “buy” rating and a $82.00 price target on the stock. Citizens Jmp cut their price target on Brown & Brown from $78.00 to $75.00 and set a “market outperform” rating on the stock in a report on Monday, October 12th. Truist Financial reduced their price objective on Brown & Brown from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. Finally, BMO Capital Markets boosted their price objective on Brown & Brown from $73.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and a consensus target price of $75.47.

Brown & Brown Trading Down 0.7%

NYSE:BRO opened at $71.35 on Thursday. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $82.57. The stock has a market cap of $23.67 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 2.36 and a beta of 0.52. The business has a fifty day moving average of $66.93 and a 200-day moving average of $66.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.96 and a current ratio of 1.96.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.07 EPS 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 analyst estimates of $1.76 billion. During the same period last year, the business posted $1.05 earnings per share. Brown & Brown’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts predict that Brown & Brown, Inc. will post 4.44 earnings per share for the current year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 11th. Investors of record on Wednesday, November 4th were given a $0.18 dividend. The ex-dividend date was Wednesday, November 4th. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.1650. Brown & Brown’s payout ratio is currently 22.78%.

Brown & Brown Company Profile

Brown & Brown, Inc. is an insurance brokerage and risk management company that helps businesses, public entities and individuals assess and manage risk. Its services include arranging property and casualty insurance, employee benefits and personal insurance, as well as providing risk management and related services. The company serves clients through retail insurance operations, national insurance programs, wholesale brokerage and insurance-related services. It operates primarily in the United States and also serves clients in international markets.