Benjamin Edwards Inc. Sells 2,291 Shares of Brown & Brown, Inc. (NYSE:BRO)

by · The Cerbat Gem

Benjamin Edwards Inc. cut its stake in Brown & Brown, Inc. (NYSE:BRO – Free Report) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,492 shares of the financial services provider’s stock after selling 2,291 shares during the period. Benjamin Edwards Inc.’s holdings in Brown & Brown were worth $9,538,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after purchasing an additional 371,980 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Brown & Brown in the third quarter valued at $58,000. Synovus Financial Corp boosted its position in Brown & Brown by 1.9% during the third quarter. Synovus Financial Corp now owns 6,157 shares of the financial services provider’s stock valued at $638,000 after acquiring an additional 117 shares during the last quarter. Franklin Resources Inc. grew its holdings in Brown & Brown by 24.6% during the 3rd quarter. Franklin Resources Inc. now owns 109,166 shares of the financial services provider’s stock worth $11,565,000 after acquiring an additional 21,574 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 234 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Price Performance

BRO stock opened at $110.60 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The business has a 50-day simple moving average of $117.83 and a two-hundred day simple moving average of $110.71. The company has a market capitalization of $31.70 billion, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. Brown & Brown, Inc. has a 52-week low of $83.60 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO – Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the company posted $1.14 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.54%. The ex-dividend date is Monday, May 12th. Brown & Brown’s dividend payout ratio (DPR) is presently 16.71%.

Wall Street Analysts Forecast Growth

BRO has been the topic of several research analyst reports. Edward Jones assumed coverage on Brown & Brown in a research report on Wednesday, April 16th. They set a “buy” rating on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 9th. Truist Financial lowered their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Jefferies Financial Group raised their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a report on Friday, April 11th. Finally, UBS Group upped their price objective on shares of Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average target price of $116.83.

Check Out Our Latest Stock Analysis on Brown & Brown

About Brown & Brown

(Free Report)

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.

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