Brown & Brown, Inc. $BRO Stock Holdings Trimmed by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund reduced its position in Brown & Brown, Inc. (NYSE:BRO) by 38.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,111,607 shares of the financial services provider’s stock after selling 697,267 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Brown & Brown were worth $88,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Brown & Brown by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 37,634,847 shares of the financial services provider’s stock valued at $2,999,497,000 after buying an additional 303,955 shares during the last quarter. Capital World Investors increased its holdings in Brown & Brown by 2.3% in the fourth quarter. Capital World Investors now owns 17,886,395 shares of the financial services provider’s stock valued at $1,425,546,000 after buying an additional 407,006 shares during the last quarter. State Street Corp increased its holdings in Brown & Brown by 2.2% in the fourth quarter. State Street Corp now owns 13,403,814 shares of the financial services provider’s stock valued at $1,068,284,000 after buying an additional 282,988 shares during the last quarter. Geode Capital Management LLC increased its holdings in Brown & Brown by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 7,952,957 shares of the financial services provider’s stock valued at $631,495,000 after buying an additional 118,225 shares during the last quarter. Finally, Norges Bank bought a new stake in Brown & Brown in the fourth quarter valued at about $516,837,000. 71.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company lowered their price objective on Brown & Brown from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Citizens Jmp assumed coverage on Brown & Brown in a report on Thursday, May 21st. They issued a “market outperform” rating and a $70.00 price objective for the company. Truist Financial lowered their price objective on Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Royal Bank Of Canada cut their target price on shares of Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Brown & Brown from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $78.44.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $59.96 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $61.11 and its two-hundred day moving average price is $69.85. Brown & Brown, Inc. has a 52-week low of $53.81 and a 52-week high of $111.10. The stock has a market capitalization of $20.32 billion, a P/E ratio of 19.28, a P/E/G ratio of 2.76 and a beta of 0.63.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the company posted $1.29 earnings per share. Brown & Brown’s revenue was up 35.4% on a year-over-year basis. As a group, sell-side analysts forecast that Brown & Brown, Inc. will post 4.51 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were issued a $0.165 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. Brown & Brown’s dividend payout ratio (DPR) is currently 21.22%.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. bought 2,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were purchased at an average price of $57.10 per share, with a total value of $114,200.00. Following the completion of the acquisition, the director directly owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. The trade was a 4.38% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 13.13% of the stock is owned by corporate insiders.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.