Ghisallo Capital Management LLC Sells 1,850,000 Shares of Brown & Brown, Inc. $BRO

Key Points

• Ghisallo Capital sold 1,850,000 shares of Brown & Brown in Q3, cutting its position by 88.1% to 250,000 shares (about 0.07% of the company) and making BRO roughly 0.8% of Ghisallo’s portfolio.
• Brown & Brown reported Q that beat on EPS (reported $0.93 vs. $0.91 estimate) while revenue of $1.61B was up 35.7% year‑over‑year but slightly below the $1.65B consensus.
• Shares trade around $68.29 (52‑week range $65.68–$125.68); the analyst consensus is a "Hold" with an average target of $90.29, and the company pays an annualized dividend of $0.66 (≈1.0% yield).

Ghisallo Capital Management LLC decreased its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 88.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 250,000 shares of the financial services provider's stock after selling 1,850,000 shares during the period. Brown & Brown makes up about 0.8% of Ghisallo Capital Management LLC's investment portfolio, making the stock its 26th largest position. Ghisallo Capital Management LLC owned 0.07% of Brown & Brown worth $23,448,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BRO. Ossiam lifted its stake in Brown & Brown by 1,834.8% in the third quarter. Ossiam now owns 77,586 shares of the financial services provider's stock worth $7,277,000 after purchasing an additional 73,576 shares during the last quarter. 2Xideas AG purchased a new position in Brown & Brown during the 3rd quarter valued at $6,630,000. Siemens Fonds Invest GmbH boosted its holdings in Brown & Brown by 11.6% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 7,046 shares of the financial services provider's stock valued at $661,000 after acquiring an additional 733 shares during the period. Wellington Management Group LLP grew its position in Brown & Brown by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 175,793 shares of the financial services provider's stock valued at $16,488,000 after acquiring an additional 53,653 shares during the last quarter. Finally, NorthRock Partners LLC grew its holdings in shares of Brown & Brown by 63.2% in the third quarter. NorthRock Partners LLC now owns 3,951 shares of the financial services provider's stock worth $371,000 after purchasing an additional 1,530 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Up 0.9%

Shares of Brown & Brown stock opened at $68.29 on Friday. The firm's 50 day moving average price is $73.46 and its 200-day moving average price is $81.77. The company has a market cap of $23.25 billion, a P/E ratio of 21.34, a PEG ratio of 1.81 and a beta of 0.79. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. Brown & Brown, Inc. has a 52-week low of $65.68 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The business's revenue for the quarter was up 35.7% compared to the same quarter last year. On average, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were paid a $0.165 dividend. The ex-dividend date was Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. Brown & Brown's dividend payout ratio (DPR) is 20.63%.

Analyst Ratings Changes

Several research firms recently commented on BRO. Barclays reduced their price target on shares of Brown & Brown from $82.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. initiated coverage on Brown & Brown in a report on Thursday, December 18th. They issued a "neutral" rating and a $91.00 price target for the company. Argus upgraded Brown & Brown to a "hold" rating in a report on Tuesday, January 27th. Truist Financial cut their price target on Brown & Brown from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, January 28th. Finally, Wells Fargo & Company cut their target price on shares of Brown & Brown from $82.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Brown & Brown currently has an average rating of "Hold" and an average target price of $90.29.

About Brown & Brown

Brown & Brown, Inc NYSE: BRO is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.

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