Swiss National Bank Sells 20,900 Shares of Brown & Brown, Inc. (NYSE:BRO)

Swiss National Bank trimmed its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 753,800 shares of the financial services provider's stock after selling 20,900 shares during the quarter. Swiss National Bank owned approximately 0.26% of Brown & Brown worth $53,603,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $31,000. Park Place Capital Corp boosted its position in Brown & Brown by 166.5% during the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider's stock worth $36,000 after purchasing an additional 318 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Brown & Brown by 174.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 348 shares during the last quarter. GPS Wealth Strategies Group LLC raised its position in shares of Brown & Brown by 150.6% in the third quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 354 shares during the period. Finally, Mendota Financial Group LLC bought a new position in shares of Brown & Brown in the fourth quarter valued at about $42,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Price Performance

BRO stock traded up $1.05 during mid-day trading on Tuesday, hitting $85.26. The stock had a trading volume of 966,977 shares, compared to its average volume of 1,340,417. The firm has a fifty day simple moving average of $84.20 and a 200 day simple moving average of $77.91. The firm has a market capitalization of $24.32 billion, a P/E ratio of 26.23, a P/E/G ratio of 2.28 and a beta of 0.79. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 52 week low of $61.71 and a 52 week high of $87.99.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.07. The business had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. As a group, research analysts forecast that Brown & Brown, Inc. will post 3.62 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown's dividend payout ratio (DPR) is presently 16.00%.

Insider Buying and Selling at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the transaction, the chairman now directly owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 16.43% of the company's stock.

Analyst Upgrades and Downgrades

BRO has been the topic of several research analyst reports. Bank of America cut shares of Brown & Brown from a "neutral" rating to an "underperform" rating and increased their price target for the company from $80.00 to $86.00 in a report on Wednesday, March 13th. Truist Financial lifted their price target on Brown & Brown from $92.00 to $94.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Citigroup increased their price objective on Brown & Brown from $89.00 to $94.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. Raymond James boosted their target price on shares of Brown & Brown from $90.00 to $95.00 and gave the company an "outperform" rating in a research report on Tuesday, March 26th. Finally, StockNews.com raised shares of Brown & Brown from a "hold" rating to a "buy" rating in a research report on Sunday, March 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Brown & Brown has a consensus rating of "Hold" and a consensus target price of $87.30.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.