Toronto Dominion Bank Trims Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Toronto Dominion Bank lessened its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 6.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 110,297 shares of the financial services provider's stock after selling 7,497 shares during the period. Toronto Dominion Bank's holdings in Brown & Brown were worth $11,252,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Brown & Brown by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after purchasing an additional 1,335,964 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Brown & Brown by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock worth $1,316,259,000 after acquiring an additional 94,121 shares during the period. Geode Capital Management LLC boosted its stake in shares of Brown & Brown by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider's stock worth $620,737,000 after acquiring an additional 118,569 shares during the period. Capital World Investors boosted its stake in shares of Brown & Brown by 15.6% in the fourth quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider's stock worth $428,043,000 after acquiring an additional 566,116 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Brown & Brown by 11.4% in the fourth quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider's stock worth $388,045,000 after acquiring an additional 388,411 shares during the period. Institutional investors own 71.01% of the company's stock.

Brown & Brown Trading Up 0.4%

BRO stock traded up $0.40 during midday trading on Friday, reaching $110.83. 1,210,539 shares of the company traded hands, compared to its average volume of 1,482,809. Brown & Brown, Inc. has a 52-week low of $85.97 and a 52-week high of $125.68. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The business has a 50 day moving average of $115.55 and a 200-day moving average of $111.21. The firm has a market capitalization of $31.76 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 2.93 and a beta of 0.87.

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

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. Brown & Brown's dividend payout ratio (DPR) is presently 16.71%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BRO. Edward Jones began coverage on Brown & Brown in a research note on Wednesday, April 16th. They issued a "buy" rating for the company. Morgan Stanley reaffirmed an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. Bank of America upped their price objective on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Truist Financial dropped their price objective on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company upped their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and an average price target of $116.85.

Brown & Brown Company 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.