Tobam Has $60,000 Holdings in Brown & Brown, Inc. (NYSE:BRO)

Tobam lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 67.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 842 shares of the financial services provider’s stock after selling 1,709 shares during the quarter. Tobam’s holdings in Brown & Brown were worth $60,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BRO. First Capital Advisors Group LLC. acquired a new stake in shares of Brown & Brown in the 2nd quarter valued at about $26,000. Fortitude Family Office LLC acquired a new stake in shares of Brown & Brown in the 4th quarter valued at about $31,000. Quilter Plc acquired a new stake in shares of Brown & Brown in the 1st quarter valued at about $438,906,000. Clear Street Markets LLC raised its stake in shares of Brown & Brown by 93.7% in the 1st quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 223 shares during the period. Finally, Park Place Capital Corp raised its stake in shares of Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 318 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the transaction, the chairman now directly owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 17.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Bank of America downgraded Brown & Brown from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $80.00 to $86.00 in a research report on Wednesday, March 13th. Raymond James lifted their target price on Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. The Goldman Sachs Group raised Brown & Brown from a “neutral” rating to a “buy” rating and lowered their target price for the company from $84.00 to $83.00 in a research report on Monday, January 8th. Wells Fargo & Company lifted their target price on Brown & Brown from $81.00 to $84.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Truist Financial lifted their price target on Brown & Brown from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Brown & Brown has an average rating of “Hold” and a consensus target price of $85.70.

Brown & Brown Stock Down 1.1 %

NYSE BRO opened at $82.65 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.58. Brown & Brown, Inc. has a 1-year low of $58.05 and a 1-year high of $87.99. The company has a 50 day moving average of $83.95 and a 200-day moving average of $76.28. The company has a market cap of $23.58 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 2.67 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. The company had revenue of $1.03 billion during the quarter. During the same quarter in the previous year, the firm posted $0.50 earnings per share. On average, equities research analysts expect that Brown & Brown, Inc. will post 3.44 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were given a dividend of $0.13 per share. The ex-dividend date was Thursday, February 1st. This represents a $0.52 annualized dividend and a yield of 0.63%. Brown & Brown’s dividend payout ratio is currently 16.99%.

About Brown & Brown

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.