Nisa Investment Advisors LLC Sells 15,453 Shares of Brown & Brown, Inc. (NYSE:BRO)

Nisa Investment Advisors LLC cut its holdings in Brown & Brown, Inc. (NYSE:BRO) by 16.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,537 shares of the financial services provider’s stock after selling 15,453 shares during the period. Nisa Investment Advisors LLC’s holdings in Brown & Brown were worth $7,808,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BRO. American Century Companies Inc. boosted its position in shares of Brown & Brown by 14.8% in the second quarter. American Century Companies Inc. now owns 16,508 shares of the financial services provider’s stock valued at $1,476,000 after acquiring an additional 2,123 shares during the period. Public Sector Pension Investment Board raised its position in shares of Brown & Brown by 8.0% in the second quarter. Public Sector Pension Investment Board now owns 40,185 shares of the financial services provider’s stock worth $3,593,000 after buying an additional 2,990 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Brown & Brown during the second quarter valued at $117,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Brown & Brown by 61.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 46,524 shares of the financial services provider’s stock worth $4,160,000 after buying an additional 17,642 shares in the last quarter. Finally, MBB Public Markets I LLC bought a new position in Brown & Brown in the 2nd quarter worth about $1,329,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Trading Up 0.7 %

BRO opened at $106.01 on Friday. Brown & Brown, Inc. has a one year low of $75.79 and a one year high of $114.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The business has a 50 day simple moving average of $105.75 and a two-hundred day simple moving average of $103.70. The firm has a market capitalization of $30.31 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 earnings per share. Analysts predict that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be given a $0.15 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.57%. Brown & Brown’s dividend payout ratio is 16.35%.

Wall Street Analyst Weigh In

BRO has been the subject of several research analyst reports. Bank of America lifted their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Royal Bank of Canada upped their target price on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Truist Financial upped their price objective 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. Finally, Barclays lifted their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $112.08.

Brown & Brown Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program 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.