Brown & Brown, Inc. $BRO Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp trimmed its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 12.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,382 shares of the financial services provider’s stock after selling 10,557 shares during the quarter. Boston Trust Walden Corp’s holdings in Brown & Brown were worth $4,591,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC purchased a new position in shares of Brown & Brown in the third quarter valued at approximately $236,000. Rakuten Investment Management Inc. increased its stake in Brown & Brown by 8.8% during the 3rd quarter. Rakuten Investment Management Inc. now owns 51,673 shares of the financial services provider’s stock worth $3,131,000 after buying an additional 4,161 shares during the period. Provenance Wealth Advisors LLC acquired a new stake in Brown & Brown during the 3rd quarter worth approximately $58,000. Cortland Associates Inc. MO lifted its holdings in Brown & Brown by 98.1% during the 3rd quarter. Cortland Associates Inc. MO now owns 353,820 shares of the financial services provider’s stock worth $21,548,000 after buying an additional 175,188 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Brown & Brown in the 3rd quarter valued at approximately $6,140,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

Shares of BRO stock opened at $71.99 on Friday. The stock’s 50-day moving average price is $66.99 and its 200 day moving average price is $66.67. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $23.88 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.35 and a beta of 0.52. Brown & Brown, Inc. has a 52-week low of $53.81 and a 52-week high of $82.57.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a net margin of 17.63% and a return on equity of 13.29%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts forecast that Brown & Brown, Inc. will post 4.44 EPS for the current year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 11th. Shareholders of record on Wednesday, November 4th will be issued a dividend of $0.18 per share. This is a boost from Brown & Brown’s previous quarterly dividend of $0.1650. The ex-dividend date is Wednesday, November 4th. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. Brown & Brown’s payout ratio is currently 20.89%.

Analyst Ratings Changes

BRO has been the topic of a number of recent research reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of Brown & Brown in a research report on Wednesday, July 29th. BMO Capital Markets boosted their target price on Brown & Brown from $73.00 to $74.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Royal Bank Of Canada restated a “sector perform” rating on shares of Brown & Brown in a report on Wednesday, July 29th. UBS Group reduced their price target on Brown & Brown from $73.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, November 2nd. Finally, Oppenheimer initiated coverage on Brown & Brown in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $73.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and a consensus target price of $75.47.

About Brown & Brown

Brown & Brown, Inc is an insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities, individuals and other organizations identify, manage and transfer risk by arranging insurance coverage and providing related advisory services.

Its operations include retail insurance brokerage, national programs, wholesale brokerage and services. Brown & Brown offers property and casualty insurance, employee benefits, personal insurance, surety and other specialized coverage.