Mn Services Vermogensbeheer B.V. Sells 2,300 Shares of Brown & Brown, Inc. (NYSE:BRO)

Mn Services Vermogensbeheer B.V. trimmed its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 92,800 shares of the financial services provider’s stock after selling 2,300 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Brown & Brown were worth $9,614,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Brown & Brown by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider’s stock valued at $2,482,223,000 after purchasing an additional 203,105 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Brown & Brown by 0.7% in the second quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock worth $1,144,893,000 after buying an additional 86,824 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Brown & Brown by 0.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock valued at $405,638,000 after buying an additional 28,180 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Brown & Brown by 24.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock valued at $311,979,000 after buying an additional 687,783 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in Brown & Brown by 105.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock valued at $184,930,000 after buying an additional 1,059,711 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BRO has been the topic of several recent research reports. UBS Group upped their price objective on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Royal Bank of Canada upped their price target on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Barclays started coverage on Brown & Brown in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $106.50.

Brown & Brown Stock Up 2.0 %

Shares of NYSE:BRO opened at $107.59 on Wednesday. The firm has a market capitalization of $30.77 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 2.40 and a beta of 0.82. The business has a 50 day simple moving average of $104.36 and a two-hundred day simple moving average of $96.46. Brown & Brown, Inc. has a 1 year low of $69.13 and a 1 year high of $107.67. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. Brown & Brown’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $0.71 EPS. On average, equities analysts predict that Brown & Brown, Inc. will post 3.73 EPS for the current year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be paid a dividend of $0.15 per share. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Wednesday, November 6th. Brown & Brown’s payout ratio is currently 14.17%.

Insider Transactions at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares in the company, 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 SEC, which is available through the SEC website. Also, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The disclosure for this sale can be found here. Company insiders own 16.43% of the company’s stock.

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.