Tower Bridge Advisors Sells 335 Shares of Brown & Brown, Inc. (NYSE:BRO)

Tower Bridge Advisors lessened its holdings in Brown & Brown, Inc. (NYSE:BRO) by 0.8% during the 4th quarter, HoldingsChannel reports. The firm owned 42,666 shares of the financial services provider’s stock after selling 335 shares during the period. Tower Bridge Advisors’ holdings in Brown & Brown were worth $4,353,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BRO. Private Advisor Group LLC increased its position in Brown & Brown by 26.1% in the third quarter. Private Advisor Group LLC now owns 7,467 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 1,544 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Brown & Brown by 11.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,853 shares of the financial services provider’s stock worth $1,435,000 after purchasing an additional 1,380 shares during the last quarter. State of Alaska Department of Revenue increased its position in Brown & Brown by 6.9% during the third quarter. State of Alaska Department of Revenue now owns 27,508 shares of the financial services provider’s stock valued at $2,849,000 after acquiring an additional 1,765 shares during the last quarter. J.W. Cole Advisors Inc. bought a new position in Brown & Brown during the third quarter valued at $216,000. Finally, abrdn plc increased its position in Brown & Brown by 11.5% during the third quarter. abrdn plc now owns 98,603 shares of the financial services provider’s stock valued at $10,124,000 after acquiring an additional 10,150 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BRO. Bank of America boosted their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Barclays boosted their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Wells Fargo & Company boosted their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods cut their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Finally, StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Trading Up 1.8 %

NYSE BRO opened at $118.59 on Friday. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $118.80. The company’s 50-day moving average price is $106.24 and its 200-day moving average price is $105.86. The stock has a market cap of $33.91 billion, a PE ratio of 34.27, a PEG ratio of 2.93 and a beta of 0.86. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Brown & Brown Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.