Brown & Brown, Inc. $BRO Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly reduced its stake in Brown & Brown, Inc. by 86.2% during the first quarter, owning only 9,850 shares after selling 61,349 shares.
• Brown & Brown recently reported $1.03 earnings per share (EPS), exceeding analysts' expectations, with a revenue of $1.29 billion, reflecting a 9.1% year-over-year increase.
• The company declared a quarterly dividend of $0.15 and has a current dividend yield of 0.6%, with a payout ratio of 17.29%.

Quantbot Technologies LP lowered its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 86.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,850 shares of the financial services provider's stock after selling 61,349 shares during the period. Quantbot Technologies LP's holdings in Brown & Brown were worth $1,225,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BRO. GAMMA Investing LLC boosted its stake in Brown & Brown by 13,974.9% during the 1st quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider's stock worth $138,427,000 after purchasing an additional 1,104,852 shares during the period. Handelsbanken Fonder AB boosted its stake in Brown & Brown by 172.5% during the 1st quarter. Handelsbanken Fonder AB now owns 1,314,434 shares of the financial services provider's stock worth $163,516,000 after purchasing an additional 832,100 shares during the period. Balyasny Asset Management L.P. boosted its stake in Brown & Brown by 9,262.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 687,095 shares of the financial services provider's stock worth $70,097,000 after purchasing an additional 679,756 shares during the period. Nuveen LLC acquired a new stake in Brown & Brown during the 1st quarter worth $72,895,000. Finally, Vanguard Group Inc. boosted its stake in Brown & Brown by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 30,501,119 shares of the financial services provider's stock worth $3,794,339,000 after purchasing an additional 560,980 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Stock Performance

Shares of BRO opened at $96.6060 on Friday. The company has a 50-day simple moving average of $102.09 and a 200-day simple moving average of $110.08. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $31.86 billion, a PE ratio of 27.84, a P/E/G ratio of 2.19 and a beta of 0.78. Brown & Brown, Inc. has a 52-week low of $90.38 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The business's revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 EPS. Equities research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, August 13th. Brown & Brown's dividend payout ratio (DPR) is currently 17.29%.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Director Paul J. Krump bought 2,678 shares of the company's stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $93.31 per share, for a total transaction of $249,884.18. Following the acquisition, the director owned 5,353 shares of the company's stock, valued at $499,488.43. The trade was a 100.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bronislaw Edmund Masojada bought 1,000 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were acquired at an average price of $91.44 per share, with a total value of $91,440.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at $457,200. This represents a 25.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 17.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BRO shares. Citigroup started coverage on shares of Brown & Brown in a research report on Wednesday, August 13th. They set a "buy" rating and a $112.00 price objective for the company. Wall Street Zen downgraded shares of Brown & Brown from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Truist Financial set a $120.00 price objective on shares of Brown & Brown in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods cut their price objective on shares of Brown & Brown from $104.00 to $87.00 and set an "underperform" rating for the company in a research report on Thursday, July 31st. Finally, BMO Capital Markets cut their price objective on shares of Brown & Brown from $122.00 to $106.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $112.64.

Brown & Brown Profile

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.

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