TimesSquare Capital Management LLC Trims Stake in Brown & Brown, Inc. (NYSE:BRO)

TimesSquare Capital Management LLC decreased 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 Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 358,962 shares of the financial services provider's stock after selling 32,910 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.13% of Brown & Brown worth $44,655,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Phillips Wealth Planners LLC raised its stake 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. SBI Securities Co. Ltd. increased its stake in shares of Brown & Brown by 26.8% in the first quarter. SBI Securities Co. Ltd. now owns 454 shares of the financial services provider's stock worth $56,000 after purchasing an additional 96 shares in the last quarter. Gateway Investment Advisers LLC raised its position in shares of Brown & Brown by 2.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider's stock valued at $536,000 after purchasing an additional 97 shares during the period. Blue Trust Inc. lifted its stake in shares of Brown & Brown by 11.7% during the 1st quarter. Blue Trust Inc. now owns 1,002 shares of the financial services provider's stock valued at $125,000 after buying an additional 105 shares in the last quarter. Finally, Lido Advisors LLC lifted its stake in shares of 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 in the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Price Performance

Shares of NYSE BRO traded down $0.74 during mid-day trading on Thursday, hitting $104.23. 3,339,965 shares of the company's stock traded hands, compared to its average volume of 1,917,725. 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, Inc. has a 1 year low of $92.29 and a 1 year high of $125.68. The company's 50-day moving average is $109.20 and its two-hundred day moving average is $111.40. The company has a market capitalization of $29.88 billion, a P/E ratio of 29.03, a PEG ratio of 2.30 and a beta of 0.82.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $1.14 earnings per share. On average, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

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

Analyst Ratings Changes

Several analysts recently issued reports on BRO shares. Truist Financial decreased their target price on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. The Goldman Sachs Group lowered shares of Brown & Brown from a "buy" rating to a "neutral" rating and cut their price objective for the company from $126.00 to $119.00 in a report on Tuesday, May 13th. BMO Capital Markets reissued an "outperform" rating and issued a $122.00 target price (up previously from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. Edward Jones started coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They set a "buy" rating for the company. Finally, Barclays dropped their target price on shares of Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. One 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. Based on data from MarketBeat.com, Brown & Brown currently has a consensus rating of "Hold" and a consensus target price of $118.23.

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.