Kentucky Retirement Systems Sells 224 Shares of Brown & Brown, Inc. (NYSE:BRO)

Kentucky Retirement Systems cut its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,270 shares of the financial services provider’s stock after selling 224 shares during the period. Kentucky Retirement Systems’ holdings in Brown & Brown were worth $1,660,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Brooklyn Investment Group bought a new stake in shares of Brown & Brown in the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown during the 3rd quarter worth about $29,000. Y.D. More Investments Ltd raised its holdings in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 162 shares during the period. R Squared Ltd acquired a new stake in Brown & Brown during the 4th quarter worth approximately $31,000. Finally, Versant Capital Management Inc boosted its stake in Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 234 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BRO. Barclays increased their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Truist Financial raised their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley assumed coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective for the company. 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. Finally, Royal Bank of Canada boosted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Brown & Brown has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Performance

NYSE:BRO opened at $111.65 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 1-year low of $80.33 and a 1-year high of $114.15. The stock’s 50-day moving average is $105.28 and its 200-day moving average is $105.54. The stock has a market cap of $31.92 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Equities research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 17.34%.

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.