Moloney Securities Asset Management LLC Cuts Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Moloney Securities Asset Management LLC lessened its holdings in Brown & Brown, Inc. (NYSE:BRO) by 4.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,296 shares of the financial services provider’s stock after selling 100 shares during the period. Moloney Securities Asset Management LLC’s holdings in Brown & Brown were worth $234,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BRO. Wilmington Savings Fund Society FSB boosted its position in Brown & Brown by 41.5% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 791 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 232 shares in the last quarter. Apollon Wealth Management LLC boosted its position in Brown & Brown by 10.1% during the fourth quarter. Apollon Wealth Management LLC now owns 2,766 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 254 shares in the last quarter. Vest Financial LLC grew its stake in Brown & Brown by 8.7% in the fourth quarter. Vest Financial LLC now owns 540,914 shares of the financial services provider’s stock valued at $55,184,000 after purchasing an additional 43,077 shares during the last quarter. EULAV Asset Management raised its holdings in Brown & Brown by 144.8% in the fourth quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock worth $43,960,000 after purchasing an additional 254,900 shares in the last quarter. Finally, Global X Japan Co. Ltd. lifted its position in shares of Brown & Brown by 14.3% during the fourth quarter. Global X Japan Co. Ltd. now owns 4,941 shares of the financial services provider’s stock valued at $504,000 after buying an additional 617 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BRO shares. Royal Bank of Canada lifted their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Barclays upped their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Bank of America upped their target price on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Truist Financial boosted their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Price Performance

NYSE:BRO opened at $108.78 on Wednesday. The firm’s fifty day moving average is $104.54 and its two-hundred day moving average is $104.89. The firm has a market cap of $31.11 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 2.84 and a beta of 0.86. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $114.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.73 and a current ratio of 1.79.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Research analysts expect that Brown & Brown, Inc. will post 4.15 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

Brown & Brown Profile

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.