Zurich Insurance Group Ltd FI Has $24.04 Million Holdings in Brown & Brown, Inc. $BRO

Zurich Insurance Group Ltd FI trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 54.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,221 shares of the financial services provider’s stock after selling 232,926 shares during the period. Zurich Insurance Group Ltd FI owned 0.07% of Brown & Brown worth $24,037,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Phillips Wealth Planners LLC raised its holdings in shares of Brown & Brown by 3.4% in the first quarter. Phillips Wealth Planners LLC now owns 2,659 shares of the financial services provider’s stock valued at $316,000 after buying an additional 88 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in Brown & Brown by 26.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 454 shares of the financial services provider’s stock worth $56,000 after buying an additional 96 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in Brown & Brown by 2.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider’s stock worth $536,000 after acquiring an additional 97 shares during the last quarter. Graypoint LLC increased its position in Brown & Brown by 3.3% in the 1st quarter. Graypoint LLC now owns 3,208 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 103 shares in the last quarter. Finally, NorthRock Partners LLC increased its position in Brown & Brown by 4.2% in the 1st quarter. NorthRock Partners LLC now owns 2,530 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

BRO has been the topic of several research analyst reports. BMO Capital Markets decreased their price target on shares of Brown & Brown from $122.00 to $106.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 30th. Bank of America raised Brown & Brown from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $126.00 to $130.00 in a report on Wednesday, July 30th. Wall Street Zen cut Brown & Brown from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Barclays dropped their target price on Brown & Brown from $111.00 to $108.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 29th. Finally, Truist Financial set a $120.00 price target on Brown & Brown in a report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $112.64.

Insider Buying and Selling

In other news, Director Paul J. Krump bought 2,678 shares of the stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $93.31 per share, with a total value of $249,884.18. Following the completion of the purchase, the director owned 5,353 shares of the company’s stock, valued at approximately $499,488.43. This trade represents a 100.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bronislaw Edmund Masojada purchased 1,000 shares of Brown & Brown stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average cost of $91.44 per share, for a total transaction of $91,440.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $457,200. This represents a 25.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 15.59% of the company’s stock.

Brown & Brown Stock Performance

BRO stock opened at $93.49 on Wednesday. Brown & Brown, Inc. has a twelve month low of $90.38 and a twelve month high of $125.68. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.64. The company has a market cap of $30.84 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 2.17 and a beta of 0.81. The business’s fifty day moving average is $98.87 and its 200-day moving average is $108.90.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, July 28th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Brown & Brown had a return on equity of 15.10% and a net margin of 19.89%.The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 13th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, August 13th. Brown & Brown’s dividend payout ratio (DPR) is currently 17.29%.

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.