Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,634 shares of the financial services provider’s stock after selling 300 shares during the period. Handelsbanken Fonder AB’s holdings in Brown & Brown were worth $3,387,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. CWM LLC increased its position in shares of Brown & Brown by 11.6% during the fourth quarter. CWM LLC now owns 5,428 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 564 shares in the last quarter. Carmel Capital Partners LLC increased its position in shares of Brown & Brown by 65.4% during the fourth quarter. Carmel Capital Partners LLC now owns 3,162 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 1,250 shares in the last quarter. abrdn plc increased its position in shares of Brown & Brown by 91.0% in the 4th quarter. abrdn plc now owns 119,874 shares of the financial services provider’s stock valued at $8,524,000 after acquiring an additional 57,119 shares during the period. Fidelis Capital Partners LLC increased its position in shares of Brown & Brown by 6.1% in the 4th quarter. Fidelis Capital Partners LLC now owns 4,772 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 276 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Brown & Brown by 174.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 348 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BRO has been the topic of several research reports. UBS Group upped their target price on Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Royal Bank of Canada upped their target price on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th. The Goldman Sachs Group raised Brown & Brown from a “neutral” rating to a “buy” rating and cut their target price for the company from $84.00 to $83.00 in a research report on Monday, January 8th. Finally, Bank of America lowered shares of Brown & Brown from a “neutral” rating to an “underperform” rating and upped their price target for the company from $80.00 to $86.00 in a report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six 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 $87.10.

Insider Activity at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 17.02% of the stock is currently owned by corporate insiders.

Brown & Brown Trading Down 1.0 %

BRO stock opened at $81.45 on Friday. The company’s 50-day simple moving average is $84.29 and its 200-day simple moving average is $77.06. The company has a quick ratio of 1.95, a current 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. The firm has a market cap of $23.23 billion, a P/E ratio of 25.06, a PEG ratio of 2.25 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.07. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company posted $0.84 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities analysts forecast that Brown & Brown, Inc. will post 3.61 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Friday, May 3rd. Brown & Brown’s dividend payout ratio is presently 16.00%.

Brown & Brown 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.