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

Edgestream Partners L.P. cut its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 81.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,893 shares of the financial services provider's stock after selling 25,774 shares during the period. Edgestream Partners L.P.'s holdings in Brown & Brown were worth $733,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Phillips Wealth Planners LLC increased its holdings in Brown & Brown by 3.4% during the 1st quarter. Phillips Wealth Planners LLC now owns 2,659 shares of the financial services provider's stock worth $316,000 after acquiring an additional 88 shares during the period. Gateway Investment Advisers LLC grew its stake in shares of Brown & Brown by 2.3% during the first quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider's stock valued at $536,000 after buying an additional 97 shares during the last quarter. Blue Trust Inc. increased its stake in Brown & Brown by 11.7% in the 1st quarter. Blue Trust Inc. now owns 1,002 shares of the financial services provider's stock worth $125,000 after purchasing an additional 105 shares during the period. Lido Advisors LLC boosted its position in 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 buying an additional 120 shares during the period. Finally, Transcend Capital Advisors LLC grew its stake in shares of Brown & Brown by 6.8% in the first quarter. Transcend Capital Advisors LLC now owns 2,164 shares of the financial services provider's stock worth $269,000 after purchasing an additional 138 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Up 0.4%

Brown & Brown stock traded up $0.42 during trading hours on Tuesday, hitting $102.91. The stock had a trading volume of 674,325 shares, compared to its average volume of 1,920,950. The stock's 50-day moving average price is $109.05 and its 200-day moving average price is $111.56. The stock has a market capitalization of $29.50 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 2.27 and a beta of 0.82. Brown & Brown, Inc. has a 12-month low of $92.38 and a 12-month high of $125.68. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO - Get Free Report) last released 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). The company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share. Equities research analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's dividend payout ratio is presently 16.71%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley reissued an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. Jefferies Financial Group raised their target price on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Edward Jones began coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They issued a "buy" rating for the company. Truist Financial cut their price objective on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods increased their target price on Brown & Brown from $102.00 to $104.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $118.23.

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.