TD Asset Management Inc Sells 85,379 Shares of Brown & Brown, Inc. $BRO

TD Asset Management Inc reduced its position in Brown & Brown, Inc. (NYSE:BRO) by 37.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 139,719 shares of the financial services provider’s stock after selling 85,379 shares during the quarter. TD Asset Management Inc’s holdings in Brown & Brown were worth $13,104,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of BRO. Parr Mcknight Wealth Management Group LLC boosted its position in shares of Brown & Brown by 15.4% during the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 14,094 shares of the financial services provider’s stock worth $1,322,000 after purchasing an additional 1,886 shares in the last quarter. Mufg Securities Americas Inc. raised its holdings in shares of Brown & Brown by 27.2% in the third quarter. Mufg Securities Americas Inc. now owns 7,901 shares of the financial services provider’s stock valued at $741,000 after purchasing an additional 1,690 shares during the last quarter. Fairbanks Capital Management Inc. lifted its position in shares of Brown & Brown by 36.9% during the 3rd quarter. Fairbanks Capital Management Inc. now owns 20,376 shares of the financial services provider’s stock worth $1,911,000 after buying an additional 5,491 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Brown & Brown by 139.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,505 shares of the financial services provider’s stock valued at $235,000 after purchasing an additional 1,460 shares during the period. Finally, Cary Street Partners Investment Advisory LLC grew its position in Brown & Brown by 88.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,676 shares of the financial services provider’s stock valued at $345,000 after buying an additional 1,725 shares during the period. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.7%

NYSE:BRO opened at $71.70 on Monday. Brown & Brown, Inc. has a 1-year low of $65.68 and a 1-year high of $125.68. The company has a market capitalization of $24.41 billion, a PE ratio of 22.41, a P/E/G ratio of 2.17 and a beta of 0.79. The firm’s 50-day moving average price is $75.34 and its 200-day moving average price is $83.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the company earned $0.86 earnings per share. The business’s revenue was up 35.7% compared to the same quarter last year. On average, 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 issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s payout ratio is presently 20.63%.

Analysts Set New Price Targets

A number of research firms have issued reports on BRO. Citigroup downgraded Brown & Brown from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Truist Financial reduced their price target on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. JPMorgan Chase & Co. initiated coverage on shares of Brown & Brown in a research report on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brown & Brown in a research note on Monday, December 29th. Finally, Wolfe Research assumed coverage on shares of Brown & Brown in a research note on Thursday, November 20th. They issued a “peer perform” rating for the company. Four analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, Brown & Brown currently has an average rating of “Hold” and a consensus price target of $90.43.

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.