First Hawaiian Bank Has $4.75 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

First Hawaiian Bank lowered its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 8.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,187 shares of the financial services provider's stock after selling 3,495 shares during the period. First Hawaiian Bank's holdings in Brown & Brown were worth $4,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BRO. Kingswood Wealth Advisors LLC acquired a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $306,000. Blue Trust Inc. boosted its position in shares of Brown & Brown by 44.7% during the fourth quarter. Blue Trust Inc. now owns 2,118 shares of the financial services provider's stock worth $219,000 after purchasing an additional 654 shares in the last quarter. R Squared Ltd bought a new position in shares of Brown & Brown during the fourth quarter worth $31,000. BOCHK Asset Management Ltd bought a new position in shares of Brown & Brown during the fourth quarter worth $326,000. Finally, Forsta AP Fonden boosted its position in shares of Brown & Brown by 2.2% during the fourth quarter. Forsta AP Fonden now owns 45,600 shares of the financial services provider's stock worth $4,652,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on BRO shares. Truist Financial dropped their price objective 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. Barclays raised their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Morgan Stanley restated an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. The Goldman Sachs Group lowered shares of Brown & Brown from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $126.00 to $119.00 in a report on Tuesday, May 13th. Finally, Jefferies Financial Group raised their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Brown & Brown presently has a consensus rating of "Hold" and a consensus price target of $116.85.

Brown & Brown Stock Up 1.0%

NYSE:BRO traded up $1.12 on Friday, hitting $112.82. 2,048,769 shares of the company's stock were exchanged, compared to its average volume of 1,487,397. The firm has a 50-day moving average price of $114.70 and a 200-day moving average price of $111.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a 52 week low of $87.88 and a 52 week high of $125.68. The company has a market cap of $32.34 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results 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). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm earned $1.14 earnings per share. The company's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed 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 was Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.53%. Brown & Brown's dividend payout ratio is presently 16.71%.

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.