Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,634 shares of the financial services provider’s stock after selling 300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Brown & Brown were worth $3,387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC increased its stake in shares of Brown & Brown by 11.6% during the fourth quarter. CWM LLC now owns 5,428 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 564 shares during the period. Carmel Capital Partners LLC increased its stake in shares of Brown & Brown by 65.4% during the fourth quarter. Carmel Capital Partners LLC now owns 3,162 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 1,250 shares during the period. abrdn plc increased its stake in shares of Brown & Brown by 91.0% during the fourth quarter. abrdn plc now owns 119,874 shares of the financial services provider’s stock worth $8,524,000 after acquiring an additional 57,119 shares during the period. Fidelis Capital Partners LLC increased its stake in shares of Brown & Brown by 6.1% during the fourth quarter. Fidelis Capital Partners LLC now owns 4,772 shares of the financial services provider’s stock worth $339,000 after acquiring an additional 276 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Brown & Brown by 174.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 348 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $12,406,005.08. Following the completion of the transaction, the chairman now owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 17.02% of the company’s stock.

Brown & Brown Stock Down 1.0 %

Shares of NYSE BRO opened at $81.45 on Friday. The firm’s 50-day moving average is $84.29 and its two-hundred day moving average is $77.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.95. The company has a market capitalization of $23.23 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 2.25 and a beta of 0.78. Brown & Brown, Inc. has a 12-month low of $61.71 and a 12-month high of $87.99.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. Equities analysts anticipate that Brown & Brown, Inc. will post 3.61 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown’s dividend payout ratio is presently 16.00%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BRO. Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Wells Fargo & Company boosted their price objective on shares of Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday. UBS Group boosted their price objective on shares of Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. Finally, Jefferies Financial Group downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating and reduced their price target for the company from $85.00 to $78.00 in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $87.10.

Brown & Brown Company 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.