Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Vest Financial LLC

Vest Financial LLC reduced its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 533,273 shares of the financial services provider's stock after selling 7,641 shares during the period. Brown & Brown comprises 1.0% of Vest Financial LLC's investment portfolio, making the stock its 13th largest holding. Vest Financial LLC owned approximately 0.19% of Brown & Brown worth $66,339,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BRO. E. Ohman J or Asset Management AB increased its stake in Brown & Brown by 17.9% during the 4th quarter. E. Ohman J or Asset Management AB now owns 11,670 shares of the financial services provider's stock worth $1,191,000 after buying an additional 1,770 shares during the period. Y.D. More Investments Ltd increased its stake in Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after buying an additional 162 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Brown & Brown by 35.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,631 shares of the financial services provider's stock worth $3,048,000 after buying an additional 7,835 shares during the period. Choreo LLC increased its stake in Brown & Brown by 2.5% during the 4th quarter. Choreo LLC now owns 31,339 shares of the financial services provider's stock worth $3,197,000 after buying an additional 757 shares during the period. Finally, Bleakley Financial Group LLC increased its stake in Brown & Brown by 3.4% during the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider's stock worth $323,000 after buying an additional 103 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on BRO. UBS Group upped their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 9th. Truist Financial dropped 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. Edward Jones started coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating on the stock. The Goldman Sachs Group downgraded shares of Brown & Brown from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $126.00 to $119.00 in a research report on Tuesday, May 13th. Finally, Jefferies Financial Group increased their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $118.25.

Brown & Brown Stock Up 0.6%

Shares of Brown & Brown stock traded up $0.62 during trading hours on Friday, hitting $110.65. The company had a trading volume of 829,033 shares, compared to its average volume of 1,483,548. The company's 50-day moving average is $113.53 and its two-hundred day moving average is $111.26. Brown & Brown, Inc. has a twelve month low of $88.31 and a twelve month high of $125.68. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The company has a market cap of $31.71 billion, a P/E ratio of 31.98, a price-to-earnings-growth ratio of 2.93 and a beta of 0.84.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (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 company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company posted $1.14 EPS. The company's quarterly 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Monday, May 12th. Brown & Brown's payout ratio is 16.71%.

About Brown & Brown

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.