Sentry Investment Management LLC Sells 210 Shares of Brown & Brown, Inc. (NYSE:BRO)

Sentry Investment Management LLC cut its holdings in Brown & Brown, Inc. (NYSE:BRO) by 17.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,025 shares of the financial services provider’s stock after selling 210 shares during the period. Sentry Investment Management LLC’s holdings in Brown & Brown were worth $92,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of BRO. Crewe Advisors LLC boosted its holdings in Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after buying an additional 228 shares during the period. Headlands Technologies LLC bought a new position in Brown & Brown in the 1st quarter worth approximately $32,000. Alaska Permanent Fund Corp bought a new position in Brown & Brown in the 1st quarter worth approximately $36,000. First PREMIER Bank purchased a new stake in Brown & Brown in the 1st quarter worth approximately $40,000. Finally, Intelligent Financial Strategies purchased a new stake in Brown & Brown in the 1st quarter worth approximately $45,000. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Raymond James increased their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. UBS Group increased their target price on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Barclays assumed coverage on shares of Brown & Brown in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 target price on the stock. Finally, Truist Financial increased their target price on shares of Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Insider Activity at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the 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 SEC, which is accessible through this link. In related news, Chairman Hyatt J. Brown sold 134,640 shares of the 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 SEC, which is accessible through this link. Also, 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 approximately $8,872,802.40. The disclosure for this sale can be found here. 17.02% of the stock is owned by insiders.

Brown & Brown Stock Performance

Brown & Brown stock opened at $103.13 on Friday. The firm’s fifty day moving average price is $99.35 and its 200-day moving average price is $91.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a market cap of $29.42 billion, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 2.34 and a beta of 0.83. Brown & Brown, Inc. has a fifty-two week low of $66.73 and a fifty-two week high of $106.02.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm earned $0.68 EPS. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts expect that Brown & Brown, Inc. will post 3.68 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, August 7th. Brown & Brown’s dividend payout ratio is currently 16.00%.

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.