Edgestream Partners L.P. Sells 25,774 Shares of Brown & Brown, Inc. (NYSE:BRO)

Edgestream Partners L.P. decreased its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 81.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,893 shares of the financial services provider's stock after selling 25,774 shares during the quarter. Edgestream Partners L.P.'s holdings in Brown & Brown were worth $733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Brown & Brown in the 4th quarter valued at about $313,412,000. First Trust Advisors LP increased its holdings in Brown & Brown by 626.6% in the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock valued at $239,751,000 after buying an additional 2,026,589 shares during the period. Vanguard Group Inc. increased its holdings in Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after buying an additional 1,335,964 shares during the period. GAMMA Investing LLC increased its holdings in Brown & Brown by 13,974.9% in the 1st quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider's stock valued at $138,427,000 after buying an additional 1,104,852 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in Brown & Brown by 172.5% in the 1st quarter. Handelsbanken Fonder AB now owns 1,314,434 shares of the financial services provider's stock valued at $163,516,000 after buying an additional 832,100 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Trading Down 0.1%

Shares of NYSE:BRO traded down $0.12 during trading on Wednesday, reaching $103.12. The stock had a trading volume of 2,730,554 shares, compared to its average volume of 1,928,164. The firm's fifty day moving average is $108.66 and its 200 day moving average is $111.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 2.52. Brown & Brown, Inc. has a 52 week low of $96.77 and a 52 week high of $125.68. The stock has a market cap of $29.56 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 2.26 and a beta of 0.82.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. As a group, equities analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.58%. Brown & Brown's payout ratio is 16.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BRO shares. UBS Group lifted their price target on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. Keefe, Bruyette & Woods lifted their price target on shares of Brown & Brown from $102.00 to $104.00 and gave the company an "underperform" rating in a report on Wednesday, July 9th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $127.00 price target (up from $125.00) on shares of Brown & Brown in a report on Thursday, June 12th. Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. Finally, Truist Financial decreased their price target on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Brown & Brown has a consensus rating of "Hold" and an average target price of $118.23.

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.