Leavell Investment Management Inc. Has $4.16 Million Position in Brown & Brown, Inc. $BRO

Leavell Investment Management Inc. reduced its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 22.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,307 shares of the financial services provider’s stock after selling 13,187 shares during the quarter. Leavell Investment Management Inc.’s holdings in Brown & Brown were worth $4,156,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BRO. ST Germain D J Co. Inc. grew its holdings in shares of Brown & Brown by 298.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Brown & Brown during the 2nd quarter worth about $30,000. Motco bought a new stake in shares of Brown & Brown in the 2nd quarter valued at about $32,000. TD Private Client Wealth LLC raised its stake in Brown & Brown by 39.3% in the second quarter. TD Private Client Wealth LLC now owns 436 shares of the financial services provider’s stock valued at $48,000 after buying an additional 123 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Brown & Brown during the 2nd quarter worth approximately $49,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.5%

NYSE BRO opened at $80.12 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 2.10. Brown & Brown, Inc. has a one year low of $76.17 and a one year high of $125.68. The stock has a market capitalization of $27.35 billion, a P/E ratio of 23.99, a P/E/G ratio of 1.78 and a beta of 0.81. The business has a 50 day simple moving average of $79.97 and a 200 day simple moving average of $89.45.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.90 by $0.15. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The company’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 earnings per share. Research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 5th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s payout ratio is currently 19.76%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial decreased their price objective on shares of Brown & Brown from $114.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday. Morgan Stanley reduced their price objective on Brown & Brown from $95.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, November 17th. Citigroup cut shares of Brown & Brown from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Keefe, Bruyette & Woods increased their price target on Brown & Brown from $79.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company cut their target price on Brown & Brown from $92.00 to $84.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 13th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $98.67.

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.