Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Occidental Asset Management LLC

Occidental Asset Management LLC cut its stake in Brown & Brown, Inc. (NYSE:BRO) by 3.5% in the third quarter, HoldingsChannel reports. The firm owned 8,060 shares of the financial services provider’s stock after selling 290 shares during the quarter. Occidental Asset Management LLC’s holdings in Brown & Brown were worth $835,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BRO. Quarry LP acquired a new position in shares of Brown & Brown during the fourth quarter worth $54,000. EP Wealth Advisors LLC lifted its holdings in Brown & Brown by 68.7% during the 4th quarter. EP Wealth Advisors LLC now owns 10,050 shares of the financial services provider’s stock worth $715,000 after buying an additional 4,094 shares during the last quarter. American International Group Inc. boosted its position in shares of Brown & Brown by 1.3% during the 4th quarter. American International Group Inc. now owns 64,959 shares of the financial services provider’s stock worth $4,619,000 after acquiring an additional 831 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Brown & Brown by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 28,152,200 shares of the financial services provider’s stock valued at $2,001,903,000 after acquiring an additional 266,441 shares during the last quarter. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of Brown & Brown during the 4th quarter worth about $288,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Brown & Brown

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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at $8,872,802.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The disclosure for this sale can be found here. Insiders own 17.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. UBS Group upped their price target on Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Truist Financial upped their target price on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada increased their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Raymond James boosted their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Argus started coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Brown & Brown Stock Performance

Shares of BRO stock opened at $106.00 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a market cap of $30.24 billion, a PE ratio of 32.62, a P/E/G ratio of 2.45 and a beta of 0.83. Brown & Brown, Inc. has a 1 year low of $66.73 and a 1 year high of $106.67. The stock has a fifty day moving average price of $102.88 and a 200 day moving average price of $93.86.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.05. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. Sell-side analysts forecast that Brown & Brown, Inc. will post 3.69 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, August 7th. Brown & Brown’s dividend payout ratio (DPR) is presently 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.