Brown & Brown, Inc. $BRO Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its position in Brown & Brown, Inc. (NYSE:BRO) by 58.5% in the 4th quarter, Holdings Channel reports. The fund owned 51,840 shares of the financial services provider’s stock after selling 73,164 shares during the period. Intech Investment Management LLC’s holdings in Brown & Brown were worth $4,132,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew its position in Brown & Brown by 423.1% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 220 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in Brown & Brown in the second quarter valued at approximately $30,000. Board of the Pension Protection Fund acquired a new stake in Brown & Brown in the fourth quarter valued at approximately $40,000. Maseco LLP acquired a new stake in Brown & Brown in the fourth quarter valued at approximately $60,000. Finally, eCIO Inc. acquired a new stake in Brown & Brown in the fourth quarter valued at approximately $67,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of BRO opened at $57.01 on Tuesday. The business’s fifty day moving average price is $62.37 and its 200 day moving average price is $71.16. Brown & Brown, Inc. has a 12-month low of $53.81 and a 12-month high of $113.83. The stock has a market capitalization of $19.32 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 2.59 and a beta of 0.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The firm’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same period last year, the business posted $1.29 earnings per share. Equities research analysts forecast that Brown & Brown, Inc. will post 4.51 EPS 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 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, May 11th. Brown & Brown’s dividend payout ratio (DPR) is presently 21.22%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citizens Jmp assumed coverage on Brown & Brown in a research note on Thursday, May 21st. They set a “market outperform” rating and a $70.00 target price for the company. Truist Financial reduced their target price on Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Royal Bank Of Canada reduced their target price on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods reduced their target price on Brown & Brown from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Finally, Morgan Stanley reduced their target price on Brown & Brown from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. Five investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $79.44.

Insider Transactions at Brown & Brown

In related 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 bought at an average cost of $57.10 per share, for a total transaction of $114,200.00. Following the completion of the purchase, the director owned 47,621 shares of the company’s stock, valued at $2,719,159.10. This represents a 4.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.