Gilbert & Cook Inc. Reduces Holdings in Brown & Brown, Inc. (NYSE:BRO)

Gilbert & Cook Inc. cut its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,866 shares of the financial services provider’s stock after selling 92 shares during the quarter. Gilbert & Cook Inc.’s holdings in Brown & Brown were worth $1,022,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. ST Germain D J Co. Inc. lifted its position in shares of Brown & Brown by 298.5% during the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Brown & Brown during the third quarter valued at $29,000. Crewe Advisors LLC increased its stake in Brown & Brown by 330.4% during the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 228 shares during the last quarter. Headlands Technologies LLC bought a new stake in Brown & Brown during the first quarter valued at $32,000. Finally, Larson Financial Group LLC increased its stake in Brown & Brown by 65.7% during the second quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 211 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Bank of America upped their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Argus assumed coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price target for the company. Finally, Raymond James upped their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and an average price target of $106.50.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 17.02% of the stock is owned by company insiders.

Brown & Brown Stock Up 0.5 %

Shares of Brown & Brown stock opened at $110.05 on Friday. Brown & Brown, Inc. has a 12-month low of $69.13 and a 12-month high of $114.08. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $31.47 billion, a P/E ratio of 29.99, a PEG ratio of 2.54 and a beta of 0.82. The stock has a 50 day moving average price of $105.38 and a two-hundred day moving average price of $97.98.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. Brown & Brown’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. Equities analysts expect that Brown & Brown, Inc. will post 3.73 earnings per share for the current year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a $0.15 dividend. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.55%. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

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.