Robeco Institutional Asset Management B.V. Sells 17,270 Shares of Brown & Brown, Inc. (NYSE:BRO)

Robeco Institutional Asset Management B.V. reduced its stake in Brown & Brown, Inc. (NYSE:BRO) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 672,286 shares of the financial services provider’s stock after selling 17,270 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Brown & Brown were worth $68,587,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Zurich Insurance Group Ltd FI lifted its position in Brown & Brown by 258.0% during the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock worth $66,985,000 after purchasing an additional 465,988 shares during the period. Truist Financial Corp increased its stake in Brown & Brown by 392.3% in the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock valued at $42,287,000 after acquiring an additional 376,892 shares during the last quarter. Barclays PLC boosted its holdings in shares of Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after purchasing an additional 371,980 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Brown & Brown by 771.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 415,134 shares of the financial services provider’s stock valued at $43,008,000 after purchasing an additional 367,500 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Brown & Brown by 42.4% in the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after purchasing an additional 330,661 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BRO has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday. Truist Financial upped their price target 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. Royal Bank of Canada boosted their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays increased their target price on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods lowered their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Stock Performance

Shares of BRO opened at $103.38 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The firm’s fifty day simple moving average is $105.51 and its two-hundred day simple moving average is $104.08. Brown & Brown, Inc. has a 12 month low of $75.79 and a 12 month high of $114.15. The stock has a market capitalization of $29.56 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. As a group, analysts predict that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.58%. Brown & Brown’s dividend payout ratio is currently 16.35%.

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.