Confluence Investment Management LLC Trims Position in Brown & Brown, Inc. (NYSE:BRO)

Confluence Investment Management LLC lowered its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 493,525 shares of the financial services provider's stock after selling 30,862 shares during the quarter. Confluence Investment Management LLC owned approximately 0.17% of Brown & Brown worth $61,395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in BRO. Journey Strategic Wealth LLC boosted its position in shares of Brown & Brown by 2.3% during the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock valued at $458,000 after acquiring an additional 99 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Brown & Brown by 3.4% during the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider's stock valued at $323,000 after acquiring an additional 103 shares during the last quarter. Lido Advisors LLC boosted its position in shares of Brown & Brown by 2.6% during the 4th quarter. Lido Advisors LLC now owns 4,690 shares of the financial services provider's stock valued at $479,000 after acquiring an additional 120 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Brown & Brown by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,379 shares of the financial services provider's stock valued at $2,079,000 after acquiring an additional 130 shares during the last quarter. Finally, Greenleaf Trust boosted its position in shares of Brown & Brown by 0.9% during the 4th quarter. Greenleaf Trust now owns 15,475 shares of the financial services provider's stock valued at $1,579,000 after acquiring an additional 139 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Trading Down 0.5%

BRO stock traded down $0.55 during midday trading on Monday, hitting $112.35. The company had a trading volume of 369,672 shares, compared to its average volume of 1,481,472. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 52 week low of $88.09 and a 52 week high of $125.68. The stock's 50 day moving average price is $114.70 and its 200 day moving average price is $111.22. The stock has a market cap of $32.20 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 2.93 and a beta of 0.87.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.53%. Brown & Brown's dividend payout ratio (DPR) is presently 16.71%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BRO. Edward Jones began coverage on Brown & Brown in a research report on Wednesday, April 16th. They set a "buy" rating for the company. Keefe, Bruyette & Woods dropped their target price on Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a research report on Monday, May 5th. Truist Financial dropped their target price on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Morgan Stanley restated an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a research report on Tuesday, March 25th. Finally, UBS Group boosted their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and a consensus target price of $118.25.

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.