Brown & Brown, Inc. (NYSE:BRO) Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 9.2% during the third quarter, Holdings Channel reports. The fund owned 32,240 shares of the financial services provider’s stock after selling 3,269 shares during the quarter. US Bancorp DE’s holdings in Brown & Brown were worth $3,340,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its stake in shares of Brown & Brown by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock valued at $1,819,000 after acquiring an additional 100 shares during the last quarter. Trust Point Inc. boosted its stake in shares of Brown & Brown by 4.3% during the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 103 shares during the last quarter. Creative Planning boosted its stake in shares of Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after acquiring an additional 112 shares during the last quarter. Anchor Investment Management LLC boosted its stake in shares of Brown & Brown by 4.0% during the second quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 125 shares during the last quarter. Finally, Copperwynd Financial LLC boosted its stake in shares of Brown & Brown by 4.8% during the second quarter. Copperwynd Financial LLC now owns 2,772 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 126 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Performance

NYSE BRO opened at $107.59 on Wednesday. The firm has a market capitalization of $30.77 billion, a P/E ratio of 29.32, a P/E/G ratio of 2.40 and a beta of 0.82. Brown & Brown, Inc. has a 1-year low of $69.13 and a 1-year high of $107.67. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The business’s 50-day simple moving average is $104.36 and its 200-day simple moving average is $96.46.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 EPS. Equities analysts predict that Brown & Brown, Inc. will post 3.73 EPS for the current year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, November 6th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.56%. Brown & Brown’s payout ratio is 14.17%.

Insider Buying and Selling

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was 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 SEC, which can be accessed through the SEC website. In related news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was 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 SEC, which can be accessed through the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank of Canada increased their price objective on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods increased their target price on Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Bank of America increased their target price on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Truist Financial increased their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $106.50.

Brown & Brown Company 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.