Argonautica Private Wealth Management Inc. Sells 572 Shares of Brown & Brown, Inc. (NYSE:BRO)

Argonautica Private Wealth Management Inc. trimmed its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 9.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,733 shares of the financial services provider’s stock after selling 572 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in Brown & Brown were worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in shares of Brown & Brown during the 4th quarter valued at $31,000. Park Place Capital Corp lifted its holdings in shares of Brown & Brown by 166.5% during the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after buying an additional 318 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Brown & Brown by 174.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock valued at $39,000 after buying an additional 348 shares during the period. GPS Wealth Strategies Group LLC increased its stake in shares of Brown & Brown by 150.6% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 354 shares in the last quarter. Finally, Mendota Financial Group LLC purchased a new stake in shares of Brown & Brown in the 4th quarter worth $42,000. 71.01% of the stock is owned by institutional investors.

Brown & Brown Trading Down 1.0 %

Shares of NYSE:BRO traded down $0.82 during trading on Friday, reaching $81.46. The company’s stock had a trading volume of 1,710,291 shares, compared to its average volume of 1,280,265. The company has a current ratio of 1.97, a quick ratio of 1.95 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 12 month low of $61.71 and a 12 month high of $87.99. The firm’s 50 day simple moving average is $84.27 and its two-hundred day simple moving average is $77.13. The stock has a market capitalization of $23.24 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 2.25 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, research analysts predict that Brown & Brown, Inc. will post 3.61 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown’s payout ratio is 16.00%.

Insiders Place Their Bets

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 shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the sale, the chairman now owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BRO has been the subject of several analyst reports. Raymond James upped their price objective on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Truist Financial upped their price objective on Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group lowered Brown & Brown from a “buy” rating to a “hold” rating and cut their price target for the stock from $85.00 to $78.00 in a research note on Tuesday, January 9th. Wells Fargo & Company increased their price target on Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Bank of America lowered Brown & Brown from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $80.00 to $86.00 in a research note on Wednesday, March 13th. Two 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $87.10.

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.