Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Spring Capital Management LLC

Spring Capital Management LLC lessened its stake in Brown & Brown, Inc. (NYSE:BRO) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,312 shares of the financial services provider’s stock after selling 2,768 shares during the quarter. Brown & Brown accounts for about 5.4% of Spring Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Spring Capital Management LLC’s holdings in Brown & Brown were worth $6,849,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in BRO. Clear Street Markets LLC raised its position in Brown & Brown by 93.7% during the first quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 223 shares in the last quarter. First Capital Advisors Group LLC. bought a new position in shares of Brown & Brown in the second quarter valued at about $26,000. West Tower Group LLC bought a new position in shares of Brown & Brown in the second quarter valued at about $27,000. Fortitude Family Office LLC bought a new position in shares of Brown & Brown in the fourth quarter valued at about $31,000. Finally, GPS Wealth Strategies Group LLC raised its position in shares of Brown & Brown by 150.6% in the third quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 354 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Brown & Brown from $72.00 to $81.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Royal Bank of Canada upped their price target on shares of Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. UBS Group upped their price target on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods boosted their target price on shares of Brown & Brown from $70.00 to $75.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Finally, Truist Financial lifted their price objective on shares of Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Brown & Brown currently has an average rating of “Hold” and an average price target of $84.90.

Brown & Brown Stock Up 1.0 %

Shares of NYSE:BRO opened at $87.26 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $24.90 billion, a P/E ratio of 28.52, a PEG ratio of 2.89 and a beta of 0.78. The business’s 50 day simple moving average is $82.10 and its two-hundred day simple moving average is $75.37. Brown & Brown, Inc. has a 52-week low of $55.99 and a 52-week high of $87.42.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. The business had revenue of $1.03 billion during the quarter. During the same period last year, the company posted $0.50 earnings per share. As a group, research analysts forecast that Brown & Brown, Inc. will post 3.29 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were given a dividend of $0.13 per share. The ex-dividend date was Thursday, February 1st. This represents a $0.52 dividend on an annualized basis and a yield of 0.60%. Brown & Brown’s payout ratio is 16.99%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the sale, the chairman now owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.02% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.