Pathstone Holdings LLC Sells 5,494 Shares of Brown & Brown, Inc. (NYSE:BRO)

Pathstone Holdings LLC decreased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 21.4% during the third quarter, HoldingsChannel.com reports. The firm owned 20,129 shares of the financial services provider’s stock after selling 5,494 shares during the quarter. Pathstone Holdings LLC’s holdings in Brown & Brown were worth $2,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BRO. ST Germain D J Co. Inc. lifted its holdings in Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown during the third quarter valued at approximately $29,000. Crewe Advisors LLC boosted its holdings in shares of Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 228 shares during the period. Larson Financial Group LLC grew its stake in Brown & Brown by 65.7% in the second quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 211 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Brown & Brown by 142.3% during the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 323 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BRO. Argus started coverage on Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price for the company. Truist Financial increased their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Finally, Jefferies Financial Group boosted their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and a consensus price target of $107.42.

Insider Activity

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 17.02% of the company’s stock.

Brown & Brown Stock Up 1.5 %

Shares of BRO stock opened at $113.43 on Wednesday. The stock’s fifty day moving average price is $106.31 and its 200 day moving average price is $99.20. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. Brown & Brown, Inc. has a 1-year low of $69.13 and a 1-year high of $114.08. The company has a market cap of $32.44 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 2.58 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, research analysts expect that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.15 per share. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Wednesday, November 6th. Brown & Brown’s payout ratio is presently 16.35%.

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.