Brown & Brown, Inc. $BRO Shares Sold by WealthPLAN Partners LLC

WealthPLAN Partners LLC lessened its stake in Brown & Brown, Inc. (NYSE:BRO) by 34.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 19,992 shares of the financial services provider’s stock after selling 10,499 shares during the period. WealthPLAN Partners LLC’s holdings in Brown & Brown were worth $1,304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Triad Investment Management purchased a new position in Brown & Brown in the 4th quarter valued at approximately $4,314,000. PFA Pension Forsikringsaktieselskab purchased a new position in Brown & Brown in the fourth quarter valued at $46,226,000. Vest Financial LLC grew its stake in Brown & Brown by 3.7% during the 4th quarter. Vest Financial LLC now owns 552,994 shares of the financial services provider’s stock worth $44,074,000 after purchasing an additional 19,503 shares in the last quarter. Capital World Investors raised its position in Brown & Brown by 81.1% in the 3rd quarter. Capital World Investors now owns 17,479,389 shares of the financial services provider’s stock valued at $1,639,392,000 after purchasing an additional 7,827,992 shares in the last quarter. Finally, Barr E S & Co. boosted its stake in shares of Brown & Brown by 19.0% in the 4th quarter. Barr E S & Co. now owns 362,669 shares of the financial services provider’s stock valued at $28,905,000 after buying an additional 57,971 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on BRO shares. Barclays boosted their price target on shares of Brown & Brown from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Tuesday. Morgan Stanley cut shares of Brown & Brown from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $60.00 to $55.00 in a report on Monday. Weiss Ratings downgraded shares of Brown & Brown from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a research report on Friday, June 26th. Finally, Truist Financial dropped their price objective on Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $78.19.

Brown & Brown Trading Up 1.2%

Shares of Brown & Brown stock opened at $69.26 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market capitalization of $23.48 billion, a P/E ratio of 22.27, a PEG ratio of 3.16 and a beta of 0.60. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $108.36. The company’s fifty day moving average is $59.79 and its two-hundred day moving average is $67.78.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, beating 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 business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the company earned $1.29 earnings per share. The business’s revenue was up 35.4% compared to the same quarter last year. Analysts forecast that Brown & Brown, Inc. will post 4.51 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, May 11th. Brown & Brown’s dividend payout ratio (DPR) is 21.22%.

Insider Activity

In related news, Director H Palmer Proctor, Jr. bought 2,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were acquired 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 owned 47,621 shares in the company, valued at approximately $2,719,159.10. This trade represents a 4.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.13% of the company’s stock.

About Brown & Brown

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.