Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC lessened its position in Brown & Brown, Inc. (NYSE:BRO) by 1.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,700 shares of the financial services provider’s stock after selling 655 shares during the period. Catalyst Capital Advisors LLC’s holdings in Brown & Brown were worth $4,050,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BRO. Creative Planning raised its stake in shares of Brown & Brown by 0.4% in the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock worth $3,097,000 after buying an additional 112 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Brown & Brown by 22.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,059 shares of the financial services provider’s stock worth $317,000 after buying an additional 554 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Brown & Brown by 10.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,054 shares of the financial services provider’s stock worth $2,596,000 after buying an additional 2,454 shares in the last quarter. Trust Point Inc. raised its stake in shares of Brown & Brown by 4.3% in the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after buying an additional 103 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Brown & Brown by 166.2% in the 3rd quarter. Blue Trust Inc. now owns 1,464 shares of the financial services provider’s stock worth $152,000 after buying an additional 914 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of BRO stock opened at $110.50 on Monday. Brown & Brown, Inc. has a 1-year low of $80.33 and a 1-year high of $114.15. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $31.60 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 2.84 and a beta of 0.86. The stock’s fifty day simple moving average is $104.54 and its 200-day simple moving average is $105.12.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, sell-side analysts predict that Brown & Brown, Inc. will post 4.15 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. Brown & Brown’s dividend payout ratio (DPR) is currently 17.34%.

Wall Street Analyst Weigh In

BRO has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Bank of America boosted their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Truist Financial boosted their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Finally, Wells Fargo & Company boosted their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. One 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. According to data from MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $113.17.

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.