Lountzis Asset Management LLC Sells 3,035 Shares of Brown & Brown, Inc. (NYSE:BRO)

Lountzis Asset Management LLC cut its holdings in Brown & Brown, Inc. (NYSE:BRO) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,902 shares of the financial services provider’s stock after selling 3,035 shares during the quarter. Brown & Brown comprises about 5.2% of Lountzis Asset Management LLC’s investment portfolio, making the stock its 6th biggest holding. Lountzis Asset Management LLC’s holdings in Brown & Brown were worth $12,334,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Creative Planning boosted its stake in shares of Brown & Brown by 0.4% during the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock worth $3,097,000 after acquiring an additional 112 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Brown & Brown by 22.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,059 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 554 shares in the last quarter. Blue Trust Inc. boosted its position in Brown & Brown by 166.2% during the 3rd quarter. Blue Trust Inc. now owns 1,464 shares of the financial services provider’s stock worth $152,000 after acquiring an additional 914 shares during the period. Raymond James & Associates grew its stake in Brown & Brown by 1.8% during the 3rd quarter. Raymond James & Associates now owns 468,146 shares of the financial services provider’s stock valued at $48,500,000 after acquiring an additional 8,484 shares in the last quarter. Finally, Pictet North America Advisors SA increased its holdings in shares of Brown & Brown by 1.6% in the 3rd quarter. Pictet North America Advisors SA now owns 90,185 shares of the financial services provider’s stock valued at $9,343,000 after purchasing an additional 1,457 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Price Performance

NYSE:BRO opened at $112.25 on Thursday. The firm has a market cap of $32.09 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 2.91 and a beta of 0.86. The firm’s 50-day simple moving average is $104.97 and its 200 day simple moving average is $105.31. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $114.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were issued a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.53%. Brown & Brown’s dividend payout ratio is currently 17.34%.

Analysts Set New Price Targets

A number of research firms recently issued reports on BRO. Bank of America lifted their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Morgan Stanley started coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. Barclays upped their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Truist Financial boosted their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their target price on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and an average price target of $113.17.

Brown & Brown Company 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.