Amalgamated Bank Cuts Position in Brown & Brown, Inc. (NYSE:BRO)

Amalgamated Bank decreased its holdings in Brown & Brown, Inc. (NYSE:BROGet Rating) by 4.3% in the first quarter, Holdings Channel reports. The firm owned 82,658 shares of the financial services provider’s stock after selling 3,676 shares during the period. Amalgamated Bank’s holdings in Brown & Brown were worth $5,974,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BRO. HighTower Advisors LLC boosted its position in shares of Brown & Brown by 0.5% in the 4th quarter. HighTower Advisors LLC now owns 36,040 shares of the financial services provider’s stock worth $2,532,000 after purchasing an additional 167 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Brown & Brown by 95.3% in the 4th quarter. Allianz Asset Management GmbH now owns 19,783 shares of the financial services provider’s stock worth $1,390,000 after purchasing an additional 9,653 shares in the last quarter. Ensign Peak Advisors Inc boosted its position in shares of Brown & Brown by 698.1% in the 4th quarter. Ensign Peak Advisors Inc now owns 44,775 shares of the financial services provider’s stock worth $3,147,000 after purchasing an additional 39,165 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Brown & Brown by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,640,950 shares of the financial services provider’s stock worth $115,326,000 after purchasing an additional 47,493 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Brown & Brown by 100.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,870 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 3,445 shares in the last quarter. Institutional investors and hedge funds own 72.31% of the company’s stock.

Brown & Brown Stock Performance

NYSE BRO opened at $61.54 on Monday. The stock has a 50-day simple moving average of $63.76 and a two-hundred day simple moving average of $63.12. The firm has a market capitalization of $17.38 billion, a P/E ratio of 28.49 and a beta of 0.80. Brown & Brown, Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $74.00. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.90 and a current ratio of 3.90.

Brown & Brown (NYSE:BROGet Rating) last announced its quarterly earnings results on Monday, July 25th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. Brown & Brown had a return on equity of 15.36% and a net margin of 18.86%. The firm had revenue of $838.70 million during the quarter, compared to analyst estimates of $803.46 million. During the same quarter in the previous year, the business earned $0.49 EPS. Brown & Brown’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities analysts forecast that Brown & Brown, Inc. will post 2.31 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Wednesday, August 10th were paid a $0.102 dividend. The ex-dividend date was Tuesday, August 9th. This represents a $0.41 annualized dividend and a dividend yield of 0.66%. Brown & Brown’s dividend payout ratio is presently 18.98%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Brown & Brown in a research report on Tuesday, July 12th. They issued a “neutral” rating and a $67.00 price objective for the company. Morgan Stanley lifted their price target on Brown & Brown from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, August 19th. Truist Financial lowered their price target on Brown & Brown from $82.00 to $75.00 in a research report on Monday, July 18th. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research report on Monday, September 12th. Finally, Jefferies Financial Group lowered their price target on Brown & Brown from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, July 12th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.63.

Brown & Brown Company Profile

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Brown & Brown, Inc markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services.

See Also

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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