Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank reduced its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,297 shares of the financial services provider's stock after selling 7,497 shares during the quarter. Toronto Dominion Bank's holdings in Brown & Brown were worth $11,252,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Brown & Brown in the fourth quarter worth about $28,000. Johnson Financial Group Inc. boosted its stake in Brown & Brown by 534.1% during the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after acquiring an additional 235 shares in the last quarter. Y.D. More Investments Ltd boosted its position in shares of Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after purchasing an additional 162 shares in the last quarter. R Squared Ltd bought a new stake in Brown & Brown in the fourth quarter worth $31,000. Finally, Sunbelt Securities Inc. lifted its stake in shares of Brown & Brown by 581.8% in the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock worth $31,000 after buying an additional 256 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Performance

Shares of Brown & Brown stock traded up $1.12 on Friday, reaching $112.82. 2,048,769 shares of the stock were exchanged, compared to its average volume of 1,487,397. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a twelve month low of $87.88 and a twelve month high of $125.68. The firm has a market capitalization of $32.34 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 2.93 and a beta of 0.87. The business has a 50 day moving average price of $114.70 and a two-hundred day moving average price of $111.21.

Brown & Brown (NYSE:BRO - Get Free Report) last announced 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). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The business's revenue was up 11.6% on a year-over-year basis. Analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were issued 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 0.53%. Brown & Brown's payout ratio is 16.71%.

Wall Street Analyst Weigh In

BRO has been the topic of a number of research analyst reports. UBS Group upped their price target on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an "underperform" rating on the stock in a research report on Monday, May 5th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Jefferies Financial Group boosted their target price 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. Finally, Truist Financial cut their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $116.85.

Brown & Brown Company 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.