Banque Cantonale Vaudoise Trims Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Banque Cantonale Vaudoise lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BROFree Report) by 12.8% in the third quarter, Holdings Channel.com reports. The firm owned 3,924 shares of the financial services provider’s stock after selling 576 shares during the period. Banque Cantonale Vaudoise’s holdings in Brown & Brown were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Brown & Brown by 1.3% during the 1st quarter. BlackRock Inc. now owns 16,764,258 shares of the financial services provider’s stock worth $962,604,000 after buying an additional 218,939 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Brown & Brown by 2.3% during the 2nd quarter. Principal Financial Group Inc. now owns 12,025,025 shares of the financial services provider’s stock worth $827,803,000 after buying an additional 274,289 shares during the last quarter. Morgan Stanley lifted its holdings in Brown & Brown by 187.2% during the 4th quarter. Morgan Stanley now owns 9,491,448 shares of the financial services provider’s stock worth $540,728,000 after buying an additional 6,186,323 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Brown & Brown by 2.1% during the 1st quarter. Geode Capital Management LLC now owns 5,287,929 shares of the financial services provider’s stock worth $303,385,000 after buying an additional 108,521 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Brown & Brown by 2.1% during the 2nd quarter. Wells Fargo & Company MN now owns 3,405,935 shares of the financial services provider’s stock worth $234,465,000 after buying an additional 68,778 shares during the last quarter. Institutional investors and hedge funds own 70.33% of the company’s stock.

Brown & Brown Stock Up 1.3 %

Shares of Brown & Brown stock opened at $79.94 on Friday. The business’s fifty day moving average price is $73.91 and its two-hundred day moving average price is $72.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.85. The company has a market capitalization of $22.75 billion, a P/E ratio of 26.12, a PEG ratio of 2.80 and a beta of 0.78. Brown & Brown, Inc. has a 1-year low of $52.82 and a 1-year high of $80.17.

Brown & Brown (NYSE:BROGet Free Report) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The firm had revenue of $1.03 billion for the quarter. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. During the same period in the previous year, the firm earned $0.50 EPS. As a group, research analysts forecast that Brown & Brown, Inc. will post 3.2 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, February 1st. Brown & Brown’s payout ratio is currently 16.99%.

Wall Street Analyst Weigh In

A number of research firms have commented on BRO. Truist Financial increased their target price on Brown & Brown from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. UBS Group increased their target price on Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Keefe, Bruyette & Woods increased their target price on Brown & Brown from $70.00 to $75.00 and gave the stock an “underperform” rating in a report on Friday, January 26th. Jefferies Financial Group downgraded Brown & Brown from a “buy” rating to a “hold” rating and cut their price target for the stock from $85.00 to $78.00 in a report on Tuesday, January 9th. Finally, The Goldman Sachs Group raised Brown & Brown from a “neutral” rating to a “buy” rating and cut their price target for the stock from $84.00 to $83.00 in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $82.70.

Read Our Latest Stock Analysis on Brown & Brown

Brown & Brown Profile

(Free Report)

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.

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

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