Speece Thorson Capital Group Inc. Decreases Holdings in Brown & Brown, Inc. (NYSE:BRO)

Speece Thorson Capital Group Inc. trimmed its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 94,083 shares of the financial services provider's stock after selling 19,221 shares during the quarter. Brown & Brown makes up approximately 2.4% of Speece Thorson Capital Group Inc.'s holdings, making the stock its 27th largest position. Speece Thorson Capital Group Inc.'s holdings in Brown & Brown were worth $11,704,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Optimum Investment Advisors bought a new stake in Brown & Brown during the 1st quarter valued at approximately $31,000. Johnson Financial Group Inc. boosted 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 valued at $29,000 after acquiring an additional 235 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Brown & Brown by 581.8% in 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 in the last quarter. Garde Capital Inc. bought a new stake in shares of Brown & Brown in the 1st quarter worth approximately $46,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of Brown & Brown by 45.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 453 shares of the financial services provider's stock worth $56,000 after purchasing an additional 142 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BRO. Wells Fargo & Company reissued an "overweight" rating and issued a $127.00 price target (up from $125.00) on shares of Brown & Brown in a research report on Thursday, June 12th. Truist Financial dropped their price target 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. Keefe, Bruyette & Woods boosted their price target on Brown & Brown from $102.00 to $104.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 9th. UBS Group boosted their price target on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 9th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $118.23.

Brown & Brown Stock Performance

NYSE BRO traded down $1.31 during trading hours on Wednesday, hitting $104.94. The company's stock had a trading volume of 3,438,056 shares, compared to its average volume of 1,909,378. Brown & Brown, Inc. has a 12 month low of $92.29 and a 12 month high of $125.68. The company's 50 day simple moving average is $109.34 and its two-hundred day simple moving average is $111.39. The company has a market cap of $30.08 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 2.33 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.52 and a quick ratio of 2.52.

Brown & Brown (NYSE:BRO - Get Free Report) last released 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 business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. Brown & Brown's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 earnings per share. As a group, sell-side analysts expect 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, May 21st. Shareholders 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 dividend on an annualized basis and a yield of 0.57%. Brown & Brown's dividend payout ratio is presently 16.71%.

Brown & Brown 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.