Teachers Retirement System of The State of Kentucky Trims Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Teachers Retirement System of The State of Kentucky reduced its stake in Brown & Brown, Inc. (NYSE:BRO) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,894 shares of the financial services provider’s stock after selling 3,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Brown & Brown were worth $1,713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BRO. Fifth Third Bancorp increased its stake in Brown & Brown by 36.2% during the third quarter. Fifth Third Bancorp now owns 658 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 175 shares during the period. Signaturefd LLC increased its stake in Brown & Brown by 15.0% during the third quarter. Signaturefd LLC now owns 1,381 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 180 shares during the period. M&T Bank Corp increased its stake in Brown & Brown by 1.6% during the third quarter. M&T Bank Corp now owns 12,757 shares of the financial services provider’s stock worth $706,000 after purchasing an additional 202 shares during the period. Advisory Services Network LLC increased its stake in Brown & Brown by 0.6% during the third quarter. Advisory Services Network LLC now owns 36,677 shares of the financial services provider’s stock worth $2,033,000 after purchasing an additional 226 shares during the period. Finally, JustInvest LLC increased its stake in Brown & Brown by 1.8% during the third quarter. JustInvest LLC now owns 12,752 shares of the financial services provider’s stock worth $707,000 after purchasing an additional 231 shares during the period. Hedge funds and other institutional investors own 71.42% of the company’s stock.

A number of equities analysts have recently commented on the company. Truist Financial boosted their price objective on Brown & Brown from $72.00 to $77.00 in a research report on Friday. Wells Fargo & Company boosted their price objective on Brown & Brown from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 4th. Morgan Stanley boosted their price objective on Brown & Brown from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, October 15th. Truist Securities boosted their price objective on Brown & Brown from $72.00 to $77.00 in a research report on Friday. Finally, Zacks Investment Research raised Brown & Brown from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Wednesday, November 24th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $67.25.

BRO stock opened at $67.05 on Friday. The company has a market capitalization of $18.94 billion, a P/E ratio of 32.71 and a beta of 0.73. Brown & Brown, Inc. has a twelve month low of $42.72 and a twelve month high of $70.75. The business has a 50 day simple moving average of $66.63 and a 200-day simple moving average of $60.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Sunday, October 24th. The financial services provider reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The business had revenue of $770.30 million during the quarter, compared to the consensus estimate of $760.36 million. Brown & Brown had a return on equity of 15.19% and a net margin of 19.72%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. Research analysts predict that Brown & Brown, Inc. will post 2.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 17th. Stockholders of record on Wednesday, November 3rd were issued a $0.1025 dividend. This is an increase from Brown & Brown’s previous quarterly dividend of $0.09. This represents a $0.41 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Tuesday, November 2nd. Brown & Brown’s dividend payout ratio is presently 20.00%.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance programs and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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