National Pension Service Has $2.08 Million Holdings in Brown & Brown, Inc. $BRO

National Pension Service cut its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 93.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,463 shares of the financial services provider’s stock after selling 470,131 shares during the period. National Pension Service’s holdings in Brown & Brown were worth $2,083,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Union Bancaire Privee UBP SA acquired a new stake in Brown & Brown during the first quarter worth $25,000. Basepoint Wealth LLC bought a new stake in Brown & Brown in the 4th quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in shares of Brown & Brown in the 2nd quarter valued at $30,000. DV Equities LLC acquired a new position in shares of Brown & Brown in the 4th quarter valued at $33,000. Finally, Continuum Advisory LLC bought a new position in shares of Brown & Brown during the 2nd quarter worth about $34,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Up 0.1%

Shares of NYSE BRO opened at $66.28 on Monday. The firm’s 50-day simple moving average is $70.20 and its 200 day simple moving average is $65.86. The company has a market cap of $22.18 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. Brown & Brown, Inc. has a 12-month low of $53.81 and a 12-month high of $96.55.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the business posted $1.03 EPS. The company’s revenue was up 30.4% compared to the same quarter last year. On average, research analysts expect that Brown & Brown, Inc. will post 4.5 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 12th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio (DPR) is currently 20.82%.

Analysts Set New Price Targets

Several analysts have recently weighed in on BRO shares. UBS Group reiterated a “neutral” rating and set a $73.00 target price (up from $65.00) on shares of Brown & Brown in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Brown & Brown from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Mizuho raised their price target on shares of Brown & Brown from $81.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group lifted their price objective on Brown & Brown from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Finally, BMO Capital Markets upped their price objective on Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $76.80.

Brown & Brown Company Profile

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

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialty insurance programs. Brown & Brown also operates wholesale brokerage and managing general agency businesses, which provide specialized coverage and market access to retail insurance agents and brokers.

Founded in 1939 by J.