Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 11.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,406 shares of the financial services provider's stock after selling 2,467 shares during the quarter. Wedge Capital Management L L P NC's holdings in Brown & Brown were worth $2,290,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Brown & Brown during the fourth quarter valued at about $28,000. Johnson Financial Group Inc. boosted its position in shares of Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after purchasing an additional 235 shares during the period. Sunbelt Securities Inc. increased its holdings in Brown & Brown by 581.8% in the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Brown & Brown in the fourth quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Brown & Brown by 79.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider's stock worth $50,000 after purchasing an additional 217 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. 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. Keefe, Bruyette & Woods reduced their price target 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. The Goldman Sachs Group cut 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 report on Tuesday, May 13th. Jefferies Financial Group increased 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, Morgan Stanley restated an "equal weight" rating and issued a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Brown & Brown has an average rating of "Hold" and a consensus target price of $118.69.

Brown & Brown Stock Performance

Brown & Brown stock traded up $2.19 during trading hours on Thursday, reaching $106.67. 4,998,396 shares of the stock were exchanged, compared to its average volume of 1,959,422. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market cap of $30.57 billion, a P/E ratio of 30.83, a P/E/G ratio of 2.93 and a beta of 0.84. Brown & Brown, Inc. has a 52-week low of $88.31 and a 52-week high of $125.68. The firm's 50 day moving average is $112.61 and its 200 day moving average is $111.16.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The firm had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. Analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.56%. Brown & Brown's dividend payout ratio is presently 16.71%.

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.