Credit Agricole S A Trims Position in Brown & Brown, Inc. $BRO

Key Points

• Credit Agricole S A has decreased its stake in Brown & Brown, Inc. by 2.2%, selling 5,323 shares and holding 239,402 shares valued at approximately $29.8 million.
• The company recently declared a quarterly dividend of $0.15 per share, with an ex-dividend date of August 13th, yielding an annualized dividend of $0.60.
• Brow & Brown's stock rose by 2.0% recently, and analysts have mixed ratings, with seven recommending a buy and seven a hold as the target price averages around $112.64.

Credit Agricole S A lessened its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 2.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 239,402 shares of the financial services provider's stock after selling 5,323 shares during the period. Credit Agricole S A owned 0.08% of Brown & Brown worth $29,782,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Optimum Investment Advisors acquired a new position in Brown & Brown in the 1st quarter valued at about $31,000. SouthState Corp increased its position in Brown & Brown by 188.6% during the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider's stock worth $32,000 after purchasing an additional 166 shares during the period. Johnson Financial Group Inc. increased its position in Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after purchasing an additional 235 shares during the period. Sunbelt Securities Inc. increased its position in Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock worth $31,000 after purchasing an additional 256 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new position in Brown & Brown during the 1st quarter worth approximately $45,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Buying and Selling

In other Brown & Brown news, Director Bronislaw Edmund Masojada purchased 1,000 shares of Brown & Brown stock in a transaction on Wednesday, August 6th. The shares were bought at an average price of $91.44 per share, with a total value of $91,440.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at $457,200. This trade represents a 25.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul J. Krump purchased 2,678 shares of Brown & Brown stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $93.31 per share, for a total transaction of $249,884.18. Following the purchase, the director owned 5,353 shares in the company, valued at approximately $499,488.43. This trade represents a 100.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. 17.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BRO has been the topic of several recent analyst reports. Truist Financial set a $120.00 target price on Brown & Brown in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods dropped their target price on Brown & Brown from $104.00 to $87.00 and set an "underperform" rating on the stock in a research report on Thursday, July 31st. BMO Capital Markets dropped their target price on Brown & Brown from $122.00 to $106.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Morgan Stanley decreased their price target on Brown & Brown from $109.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. Finally, Barclays decreased their price target on Brown & Brown from $111.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 29th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $112.64.

Brown & Brown Price Performance

BRO stock traded up $0.2060 on Friday, reaching $96.6060. The company had a trading volume of 1,593,830 shares, compared to its average volume of 3,848,808. Brown & Brown, Inc. has a 1 year low of $90.38 and a 1 year high of $125.68. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.72 and a current ratio of 6.72. The company's fifty day moving average is $102.09 and its 200 day moving average is $110.10. The company has a market cap of $31.86 billion, a P/E ratio of 27.84, a PEG ratio of 2.20 and a beta of 0.78.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, July 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.04. Brown & Brown had a return on equity of 15.10% and a net margin of 19.89%.The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company earned $0.93 EPS. Brown & Brown's revenue was up 9.1% on a year-over-year basis. On average, research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. Brown & Brown's dividend payout ratio is presently 17.29%.

About Brown & Brown

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.