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

Clarkston Capital Partners LLC lessened its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.8% during the 3rd quarter, Holdings Channel reports. The firm owned 710,070 shares of the financial services provider’s stock after selling 35,915 shares during the quarter. Brown & Brown comprises 1.4% of Clarkston Capital Partners LLC’s portfolio, making the stock its 25th largest holding. Clarkston Capital Partners LLC’s holdings in Brown & Brown were worth $66,597,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BRO. Cornerstone Planning Group LLC boosted 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 buying an additional 220 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in Brown & Brown during the 2nd quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Brown & Brown during the 2nd quarter worth approximately $49,000. Evelyn Partners Investment Management LLP acquired a new stake in Brown & Brown during the 2nd quarter valued at approximately $52,000. Finally, True Wealth Design LLC lifted its stake in Brown & Brown by 4,369.2% during the 3rd quarter. True Wealth Design LLC now owns 581 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 568 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Stock Up 0.5%

Shares of NYSE BRO opened at $73.48 on Monday. The firm has a market cap of $25.01 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The company’s 50-day simple moving average is $74.54 and its 200-day simple moving average is $82.54. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. Brown & Brown, Inc. has a 52-week low of $65.68 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. Equities analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s dividend payout ratio (DPR) is presently 20.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Truist Financial lowered their price target on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Bank of America decreased their price objective on Brown & Brown from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. Barclays lowered their target price on Brown & Brown from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 27th. UBS Group reaffirmed a “neutral” rating and set a $81.00 target price (down from $90.00) on shares of Brown & Brown in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. started coverage on Brown & Brown in a report on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price target for the company. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $90.43.

Brown & Brown 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.