Brown & Brown, Inc. (NYSE:BRO) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in Brown & Brown, Inc. (NYSE:BRO) by 13.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,450 shares of the financial services provider’s stock after selling 6,074 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Brown & Brown were worth $4,191,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Studio Investment Management LLC raised its holdings in Brown & Brown by 1.5% in the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after acquiring an additional 96 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Brown & Brown by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after buying an additional 100 shares during the period. Trust Point Inc. boosted its stake in Brown & Brown by 4.3% in the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after buying an additional 103 shares during the last quarter. Creative Planning increased its stake in shares of Brown & Brown by 0.4% during the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after acquiring an additional 112 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of Brown & Brown by 0.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock worth $2,375,000 after acquiring an additional 113 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group upped their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Argus started coverage on Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price on the stock. Wells Fargo & Company boosted their price target on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Truist Financial raised their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Barclays boosted their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. 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, Brown & Brown currently has an average rating of “Hold” and an average price target of $107.42.

Brown & Brown Price Performance

Shares of BRO stock opened at $111.38 on Wednesday. The firm has a fifty day simple moving average of $107.55 and a 200-day simple moving average of $100.22. The company has a market capitalization of $31.85 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Brown & Brown, Inc. has a twelve month low of $69.13 and a twelve month high of $114.15. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data 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. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company posted $0.71 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. 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.