TD Waterhouse Canada Inc. Has $28,000 Stock Holdings in Brown & Brown, Inc. $BRO

Key Points

• TD Waterhouse Canada slashed its Brown & Brown position by 98.6% in the second quarter, selling 28,013 shares and retaining 412 shares valued at approximately $28,000. Institutional investors and hedge funds collectively own 71.01% of the company.
• Brown & Brown reported quarterly EPS of $1.07, slightly below the $1.08 consensus estimate, while revenue of $1.65 billion also missed forecasts but increased 30.4% year over year.
• The company paid a quarterly dividend of $0.165, representing an annualized dividend of $0.66 and a 1.0% yield. Analysts maintain an overall “Hold” rating, with an average price target of $76.80.

TD Waterhouse Canada Inc. trimmed its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 98.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 412 shares of the financial services provider's stock after selling 28,013 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Brown & Brown were worth $28,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. ICONIQ Capital LLC boosted its stake in shares of Brown & Brown by 5.4% during the 2nd quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider's stock worth $234,000 after acquiring an additional 109 shares during the period. Zacks Investment Management boosted its position in Brown & Brown by 0.7% during the third quarter. Zacks Investment Management now owns 17,854 shares of the financial services provider's stock worth $1,675,000 after purchasing an additional 125 shares during the period. Moors & Cabot Inc. increased its holdings in shares of Brown & Brown by 2.1% in the third quarter. Moors & Cabot Inc. now owns 6,805 shares of the financial services provider's stock valued at $638,000 after purchasing an additional 142 shares during the last quarter. Crawford Investment Counsel Inc. raised its position in shares of Brown & Brown by 0.6% in the fourth quarter. Crawford Investment Counsel Inc. now owns 28,750 shares of the financial services provider's stock valued at $2,291,000 after purchasing an additional 170 shares during the period. Finally, Equitable Trust Co. lifted its stake in shares of Brown & Brown by 1.7% during the 1st quarter. Equitable Trust Co. now owns 10,901 shares of the financial services provider's stock worth $711,000 after buying an additional 182 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $66.28 on Monday. The firm has a 50 day moving average of $70.20 and a 200-day moving average of $65.86. The stock has a market capitalization of $22.18 billion, a PE ratio of 20.91, a PEG ratio of 2.03 and a beta of 0.58. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58. Brown & Brown, Inc. has a 12 month low of $53.81 and a 12 month high of $96.55.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.The business's revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS. On average, equities research analysts predict that Brown & Brown, Inc. will post 4.5 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were paid a $0.165 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. Brown & Brown's dividend payout ratio (DPR) is presently 20.82%.

Wall Street Analysts Forecast Growth

BRO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on Brown & Brown from $78.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Mizuho boosted their price target on Brown & Brown from $81.00 to $86.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Truist Financial set a $90.00 price objective on Brown & Brown in a report on Wednesday, July 29th. The Goldman Sachs Group increased their price objective on Brown & Brown from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. Finally, Morgan Stanley reissued an "underweight" rating and set a $60.00 target price (up from $56.00) on shares of Brown & Brown in a report on Wednesday, August 19th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $76.80.

About Brown & Brown

Brown & Brown, Inc is an independent insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk by providing insurance products and related advisory services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialty insurance programs. Brown & Brown also operates wholesale brokerage and managing general agency businesses, which provide specialized coverage and market access to retail insurance agents and brokers.

Founded in 1939 by J.

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