Truist Financial Corp Buys 20,109 Shares of Brown & Brown, Inc. (NYSE:BRO)

Truist Financial Corp raised its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 21.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 116,090 shares of the financial services provider’s stock after purchasing an additional 20,109 shares during the period. Truist Financial Corp’s holdings in Brown & Brown were worth $8,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Tributary Capital Management LLC lifted its stake in shares of Brown & Brown by 1.1% during the 4th quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider’s stock valued at $1,186,000 after buying an additional 174 shares in the last quarter. Summit Financial LLC boosted its holdings in shares of Brown & Brown by 6.0% in the third quarter. Summit Financial LLC now owns 3,395 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 191 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Brown & Brown by 0.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,867 shares of the financial services provider’s stock valued at $1,527,000 after purchasing an additional 199 shares in the last quarter. Xcel Wealth Management LLC raised its stake in shares of Brown & Brown by 3.2% during the 4th quarter. Xcel Wealth Management LLC now owns 6,389 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 200 shares during the period. Finally, Nilsine Partners LLC lifted its holdings in Brown & Brown by 3.1% during the 3rd quarter. Nilsine Partners LLC now owns 7,584 shares of the financial services provider’s stock worth $530,000 after purchasing an additional 228 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the sale, the chairman now owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group upped their price target on Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Citigroup increased their target price on shares of Brown & Brown from $89.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods boosted their price target on shares of Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a research report on Friday. Royal Bank of Canada increased their price objective on Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Finally, Jefferies Financial Group downgraded Brown & Brown from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $85.00 to $78.00 in a research report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus price target of $87.30.

Brown & Brown Trading Up 0.8 %

NYSE BRO opened at $83.52 on Friday. The stock’s 50-day simple moving average is $84.18 and its two-hundred day simple moving average is $77.54. Brown & Brown, Inc. has a twelve month low of $61.71 and a twelve month high of $87.99. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $23.82 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 2.26 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the business posted $0.84 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Research analysts forecast that Brown & Brown, Inc. will post 3.62 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 0.62%. Brown & Brown’s payout ratio is 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.