Brown & Brown, Inc. $BRO Stock Position Cut by D.A. Davidson & CO.

Key Points

• 84.1% — D.A. Davidson & CO. cut its stake in Brown & Brown by 84.1% in Q4, selling 19,396 shares and retaining 3,674 shares valued at about $293,000.
• Brown & Brown beat quarterly estimates with $1.39 EPS (vs. $1.36 expected) and $1.90B revenue, up 35.4% year‑over‑year; analysts forecast $4.51 EPS for the fiscal year.
• The company declared a quarterly dividend of $0.165 per share (annualized $0.66, ~1.2% yield; ex‑dividend May 11, payable May 20), while brokers have trimmed price targets and the consensus rating is Hold with an average target of $80.73.

D.A. Davidson & CO. lessened its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 84.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,674 shares of the financial services provider's stock after selling 19,396 shares during the period. D.A. Davidson & CO.'s holdings in Brown & Brown were worth $293,000 at the end of the most recent quarter.

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

Brown & Brown Stock Performance

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

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

Brown & Brown Announces Dividend

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

Insider Buying and Selling

In other news, Director H Palmer Proctor, Jr. acquired 2,000 shares of Brown & Brown stock in a transaction on Tuesday, May 5th. The stock was bought at an average cost of $57.10 per share, with a total value of $114,200.00. Following the completion of the purchase, the director owned 47,621 shares of the company's stock, valued at $2,719,159.10. This represents a 4.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 13.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BRO. Morgan Stanley decreased their target price 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. Truist Financial reduced their price objective on shares of Brown & Brown from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Barclays reduced their price objective on shares of Brown & Brown from $80.00 to $72.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 8th. Finally, Bank of America reduced their price objective on shares of Brown & Brown from $90.00 to $88.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Four analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, Brown & Brown presently has an average rating of "Hold" and an average price target of $80.73.

Brown & Brown 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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