Bokf Na Sells 656 Shares of Brown & Brown, Inc. (NYSE:BRO)

Bokf Na lessened its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 17,080 shares of the financial services provider’s stock after selling 656 shares during the period. Bokf Na’s holdings in Brown & Brown were worth $1,741,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BRO. Captrust Financial Advisors grew its holdings in Brown & Brown by 47.8% during the fourth quarter. Captrust Financial Advisors now owns 73,632 shares of the financial services provider’s stock valued at $7,512,000 after purchasing an additional 23,797 shares during the last quarter. Cary Street Partners Financial LLC acquired a new position in Brown & Brown in the 4th quarter valued at $54,000. Balyasny Asset Management L.P. lifted its position in Brown & Brown by 9,262.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 687,095 shares of the financial services provider’s stock worth $70,097,000 after acquiring an additional 679,756 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Brown & Brown by 7.5% during the 4th quarter. BNP Paribas Financial Markets now owns 403,647 shares of the financial services provider’s stock worth $41,180,000 after acquiring an additional 28,053 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Brown & Brown by 5.0% during the fourth quarter. Ameriprise Financial Inc. now owns 589,118 shares of the financial services provider’s stock valued at $60,093,000 after acquiring an additional 28,127 shares during the period. 71.01% of the stock is owned by institutional investors.

Brown & Brown Trading Up 0.3 %

Shares of BRO opened at $111.55 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $31.97 billion, a PE ratio of 32.24, a PEG ratio of 2.93 and a beta of 0.87. Brown & Brown, Inc. has a 1 year low of $84.53 and a 1 year high of $125.68. The stock has a 50 day simple moving average of $117.31 and a 200-day simple moving average of $110.78.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business posted $1.14 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $102.00 to $100.00 and set an “underperform” rating on the stock in a research note on Monday. Royal Bank of Canada lifted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Morgan Stanley reissued an “equal weight” rating and issued a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Truist Financial dropped their target price on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company raised their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $116.67.

About Brown & Brown

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.