Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC cut its holdings in Brown & Brown, Inc. (NYSE:BRO) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,787 shares of the financial services provider’s stock after selling 465 shares during the period. Global Retirement Partners LLC’s holdings in Brown & Brown were worth $1,739,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BRO. Vanguard Group Inc. grew its position in shares of Brown & Brown by 0.7% in the first quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider’s stock valued at $2,482,223,000 after purchasing an additional 203,105 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Brown & Brown by 0.7% during the 2nd quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock valued at $1,144,893,000 after buying an additional 86,824 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in 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. Royal London Asset Management Ltd. raised its holdings in shares of Brown & Brown by 105.1% in the second quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock worth $184,930,000 after acquiring an additional 1,059,711 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Brown & Brown by 8.0% in the second 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. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Brown & Brown

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares in the company, valued at $8,872,802.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares in the company, valued at approximately $8,872,802.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 16.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Argus assumed coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective for the company. Jefferies Financial Group increased their price target on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Barclays began coverage on Brown & Brown in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price objective for the company. UBS Group increased their target price on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Finally, Truist Financial lifted their price target on Brown & Brown from $112.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $105.67.

Brown & Brown Stock Performance

Brown & Brown stock opened at $106.39 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. Brown & Brown, Inc. has a one year low of $66.73 and a one year high of $107.67. The stock’s 50 day moving average price is $103.57 and its 200 day moving average price is $94.43. The firm has a market capitalization of $30.35 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts expect that Brown & Brown, Inc. will post 3.69 EPS for the current fiscal year.

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.