Brown & Brown, Inc. $BRO Stake Trimmed by Davidson Kahn Capital Management LLC

Davidson Kahn Capital Management LLC decreased its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 66.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,195 shares of the financial services provider's stock after selling 27,509 shares during the period. Davidson Kahn Capital Management LLC's holdings in Brown & Brown were worth $865,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Equitable Trust Co. lifted its holdings in Brown & Brown by 1.7% during the 1st quarter. Equitable Trust Co. now owns 10,901 shares of the financial services provider's stock worth $711,000 after purchasing an additional 182 shares in the last quarter. CX Institutional boosted its holdings in Brown & Brown by 3.1% in the 3rd quarter. CX Institutional now owns 6,242 shares of the financial services provider's stock valued at $380,000 after purchasing an additional 189 shares during the period. Patton Fund Management Inc. grew its position in shares of Brown & Brown by 10.6% during the 1st quarter. Patton Fund Management Inc. now owns 3,123 shares of the financial services provider's stock valued at $204,000 after purchasing an additional 299 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Brown & Brown by 0.9% in the first quarter. Cetera Investment Advisers now owns 36,804 shares of the financial services provider's stock worth $2,400,000 after purchasing an additional 311 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Brown & Brown by 39.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,288 shares of the financial services provider's stock worth $83,000 after buying an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Down 2.1%

Shares of Brown & Brown stock opened at $71.44 on Tuesday. Brown & Brown, Inc. has a 52-week low of $53.81 and a 52-week high of $89.05. The company has a 50-day simple moving average of $67.25 and a two-hundred day simple moving average of $67.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a market capitalization of $23.90 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.27 and a beta of 0.60.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). The business had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.76 billion. Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%. The company's revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. On average, analysts anticipate that Brown & Brown, Inc. will post 4.49 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 11th. Stockholders of record on Wednesday, November 4th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, November 4th. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. This is a positive change from Brown & Brown's previous quarterly dividend of $0.1650. Brown & Brown's dividend payout ratio is currently 20.82%.

Trending Headlines about Brown & Brown

Here are the key news stories impacting Brown & Brown this week:

• Positive Sentiment: Third-quarter revenue increased 7.4% year over year to $1.725 billion, while net income attributable to Brown & Brown rose 5.7% to $240 million. Adjusted diluted EPS increased 1.9% to $1.07. Brown & Brown third-quarter results
• Positive Sentiment: For the first nine months, revenue grew 23.4% to $5.3 billion and net income increased 20.8% to $954 million, supported partly by the integration of approximately 5,000 employees from the Accession acquisition. Brown & Brown nine-month results
• Neutral Sentiment: Management said the company continued winning customers despite a challenging insurance-rate environment. Investors will look for additional detail during the October 27 conference call regarding organic growth, acquisition integration and the outlook.
• Negative Sentiment: Adjusted EPS of $1.07 fell short of the $1.08 consensus estimate, while revenue of $1.70 billion missed the $1.76 billion analyst forecast. Brown & Brown misses third-quarter estimates
• Negative Sentiment: Core organic revenue grew only 1.2%—1.5% including contingents—raising concerns that reported growth remains heavily dependent on acquisitions. Adjusted EBITDAC margin declined to 34.6% from 36.6%, and diluted GAAP EPS decreased 1.5% to $0.67. Brown & Brown organic growth and margin results

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BRO. BMO Capital Markets lifted their target price on shares of Brown & Brown from $73.00 to $74.00 and gave the company a "market perform" rating in a research report on Wednesday, July 29th. Citizens Jmp lowered their price objective on shares of Brown & Brown from $78.00 to $75.00 and set a "market outperform" rating on the stock in a research report on Monday, October 12th. Morgan Stanley reduced their target price on Brown & Brown from $60.00 to $55.00 and set an "underweight" rating on the stock in a research note on Tuesday, October 6th. Weiss Ratings upgraded Brown & Brown from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday. Finally, Citigroup restated a "market outperform" rating on shares of Brown & Brown in a research report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Brown & Brown has an average rating of "Hold" and a consensus target price of $76.00.

About Brown & Brown

Brown & Brown, Inc is an insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities, individuals and other organizations identify, manage and transfer risk by arranging insurance coverage and providing related advisory services.

Its operations include retail insurance brokerage, national programs, wholesale brokerage and services. Brown & Brown offers property and casualty insurance, employee benefits, personal insurance, surety and other specialized coverage.

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