Banco Bilbao Vizcaya Argentaria S.A. Sells 2,497 Shares of Brown & Brown, Inc. (NYSE:BRO)

Banco Bilbao Vizcaya Argentaria S.A. lowered its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 33.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,885 shares of the financial services provider's stock after selling 2,497 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Brown & Brown were worth $498,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Barclays PLC raised its position in Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock worth $255,537,000 after purchasing an additional 371,980 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of Brown & Brown by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 8,045 shares of the financial services provider's stock valued at $833,000 after acquiring an additional 161 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Brown & Brown in the third quarter valued at about $58,000. Tidal Investments LLC increased its position in Brown & Brown by 652.8% in the third quarter. Tidal Investments LLC now owns 259,205 shares of the financial services provider's stock worth $26,854,000 after purchasing an additional 224,772 shares during the period. Finally, Synovus Financial Corp raised its holdings in Brown & Brown by 1.9% during the 3rd quarter. Synovus Financial Corp now owns 6,157 shares of the financial services provider's stock worth $638,000 after purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Stock Up 1.4 %

BRO traded up $1.58 during midday trading on Friday, hitting $110.60. The company had a trading volume of 1,616,046 shares, compared to its average volume of 1,460,552. The stock's 50 day moving average price is $117.83 and its 200 day moving average price is $110.66. Brown & Brown, Inc. has a 52 week low of $81.79 and a 52 week high of $125.68. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $31.70 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same period last year, the firm posted $1.14 earnings per share. Brown & Brown's quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. Brown & Brown's dividend payout ratio is currently 16.71%.

Analyst Ratings Changes

BRO has been the topic of several analyst reports. UBS Group increased their price objective on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. Edward Jones started coverage on Brown & Brown in a report on Wednesday, April 16th. They set a "buy" rating on the stock. Royal Bank of Canada increased their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Truist Financial cut their price objective on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Bank of America increased their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Brown & Brown currently has a consensus rating of "Hold" and an average target price of $116.83.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.