Brown & Brown, Inc. $BRO Shares Sold by Truist Financial Corp

Key Points

• Truist Financial reduced its stake in Brown & Brown by 7.0%, selling 18,834 shares and retaining 249,304 shares valued at about $19.87 million per its latest SEC filing.
• Large institutions boosted positions — notably Vanguard (≈37.63 million shares, ~$3.0B) and Capital World Investors (≈17.48 million shares) — and institutional investors own roughly 71.01% of the company.
• Research firms have trimmed price targets and the stock has a consensus "Hold" rating with a $80.73 target, while BRO trades near $56.64, close to its 52‑week low, underscoring a sizable gap between market price and analyst expectations.

Truist Financial Corp lessened its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 249,304 shares of the financial services provider's stock after selling 18,834 shares during the period. Truist Financial Corp owned about 0.07% of Brown & Brown worth $19,870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Brown & Brown by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 37,634,847 shares of the financial services provider's stock worth $2,999,497,000 after acquiring an additional 303,955 shares in the last quarter. Capital World Investors grew its holdings in Brown & Brown by 81.1% during the 3rd quarter. Capital World Investors now owns 17,479,389 shares of the financial services provider's stock worth $1,639,392,000 after acquiring an additional 7,827,992 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Brown & Brown by 13.4% during the 3rd quarter. Principal Financial Group Inc. now owns 15,416,190 shares of the financial services provider's stock worth $1,445,888,000 after acquiring an additional 1,821,229 shares in the last quarter. State Street Corp grew its holdings in Brown & Brown by 5.3% during the 3rd quarter. State Street Corp now owns 13,120,826 shares of the financial services provider's stock worth $1,230,602,000 after acquiring an additional 660,005 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Brown & Brown by 2.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,802,327 shares of the financial services provider's stock worth $217,517,000 after acquiring an additional 57,274 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on BRO shares. JPMorgan Chase & Co. lowered their price target on shares of Brown & Brown from $91.00 to $85.00 and set a "neutral" rating for the company in a report on Thursday, April 9th. Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $74.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, April 29th. Morgan Stanley reduced their price objective on shares of Brown & Brown from $76.00 to $70.00 and set an "equal weight" rating for the company in a research report on Monday, April 6th. Mizuho reduced their price objective on shares of Brown & Brown from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. Finally, Royal Bank Of Canada reduced their price objective on shares of Brown & Brown from $76.00 to $72.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $80.73.

Brown & Brown Stock Down 1.5%

Shares of NYSE BRO opened at $56.64 on Thursday. The stock has a market cap of $19.20 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 2.65 and a beta of 0.66. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 52-week low of $56.54 and a 52-week high of $113.83. The business has a 50-day moving average price of $67.10 and a 200 day moving average price of $74.43.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The business's revenue was up 35.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 EPS. Equities research analysts forecast that Brown & Brown, Inc. will post 4.51 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Monday, May 11th will be given a $0.165 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. Brown & Brown's dividend payout ratio is 21.22%.

Insider Activity

In other news, Director H Palmer Proctor, Jr. bought 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average cost of $57.10 per share, with a total value of $114,200.00. Following the transaction, the director directly owned 47,621 shares in the company, valued at $2,719,159.10. This trade represents a 4.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 13.13% of the stock is currently owned by company insiders.

Brown & Brown Company Profile

Brown & Brown, Inc NYSE: BRO is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.

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