Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Swiss National Bank

Swiss National Bank lessened its holdings in Brown & Brown, Inc. (NYSE:BRO) by 0.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 719,000 shares of the financial services provider’s stock after selling 200 shares during the quarter. Swiss National Bank owned approximately 0.25% of Brown & Brown worth $74,488,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BRO. Crewe Advisors LLC boosted its holdings in shares of Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after buying an additional 228 shares during the period. ST Germain D J Co. Inc. boosted its stake in Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown during the third quarter valued at approximately $29,000. Blue Trust Inc. raised its position in shares of 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. Finally, Larson Financial Group LLC lifted its holdings in shares of Brown & Brown by 65.7% in the 2nd 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 during the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BRO. Raymond James upped their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Bank of America increased their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group lifted their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Royal Bank of Canada lifted their price target on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $106.50.

Insiders Place Their Bets

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.43% of the company’s stock.

Brown & Brown Stock Down 0.4 %

Shares of BRO stock opened at $109.37 on Wednesday. Brown & Brown, Inc. has a 1 year low of $69.13 and a 1 year high of $114.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The business’s fifty day moving average is $105.63 and its 200-day moving average is $98.46. The stock has a market cap of $31.27 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 2.54 and a beta of 0.82.

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

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a $0.15 dividend. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. Brown & Brown’s dividend payout ratio (DPR) is 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.