Brown & Brown, Inc. (NYSE:BRO) Position Reduced by Amalgamated Bank

Amalgamated Bank reduced its position in Brown & Brown, Inc. (NYSE:BRO) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,011 shares of the financial services provider’s stock after selling 3,317 shares during the period. Amalgamated Bank’s holdings in Brown & Brown were worth $4,623,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in Brown & Brown during the 4th quarter valued at $31,000. Park Place Capital Corp lifted its stake in Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 318 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Brown & Brown by 174.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 348 shares during the period. Mendota Financial Group LLC purchased a new position in Brown & Brown during the 4th quarter valued at about $42,000. Finally, Orion Capital Management LLC purchased a new position in Brown & Brown during the 3rd quarter valued at about $56,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $85.26 on Wednesday. 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 business has a 50 day moving average price of $84.20 and a 200 day moving average price of $77.91. The company has a market cap of $24.32 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 2.28 and a beta of 0.79. Brown & Brown, Inc. has a twelve month low of $61.71 and a twelve month high of $87.99.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data 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. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. Brown & Brown’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. Research analysts predict that Brown & Brown, Inc. will post 3.62 earnings per share for the current year.

Brown & Brown Announces Dividend

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

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of Brown & Brown stock in a transaction 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 16.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on BRO shares. Bank of America cut shares of Brown & Brown from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $80.00 to $86.00 in a report on Wednesday, March 13th. Keefe, Bruyette & Woods lifted their price target on Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a report on Friday, May 3rd. StockNews.com upgraded Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. Wells Fargo & Company lifted their target price on shares of Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Finally, Truist Financial increased their price target on shares of Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.