First National Bank of Omaha Sells 3,761 Shares of Brown & Brown, Inc. (NYSE:BRO)

First National Bank of Omaha lowered its position in Brown & Brown, Inc. (NYSE:BRO) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,426 shares of the financial services provider’s stock after selling 3,761 shares during the period. First National Bank of Omaha’s holdings in Brown & Brown were worth $5,639,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Royal London Asset Management Ltd. grew its holdings in Brown & Brown by 105.1% in the second quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock worth $184,930,000 after purchasing an additional 1,059,711 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Brown & Brown by 24.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after buying an additional 687,783 shares during the last quarter. Zurich Insurance Group Ltd FI increased its position in Brown & Brown by 258.0% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after buying an additional 465,988 shares in the last quarter. Natixis Advisors LLC raised its stake in Brown & Brown by 123.9% during the second quarter. Natixis Advisors LLC now owns 733,668 shares of the financial services provider’s stock valued at $65,597,000 after buying an additional 406,064 shares during the last quarter. Finally, Truist Financial Corp raised its stake in Brown & Brown by 392.3% during the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock valued at $42,287,000 after buying an additional 376,892 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

NYSE BRO opened at $109.18 on Friday. The stock has a market capitalization of $31.22 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.56 and a beta of 0.84. Brown & Brown, Inc. has a 1-year low of $69.13 and a 1-year high of $114.15. 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 fifty day moving average price is $107.99 and its 200-day moving average price is $100.58.

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

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.55%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s payout ratio is 16.35%.

Analysts Set New Price Targets

BRO has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Argus assumed coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 price objective for the company. Morgan Stanley initiated coverage on shares of Brown & Brown in a report on Thursday. They issued an “overweight” rating and a $134.00 target price for the company. Barclays increased their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. 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 report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.46.

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.