First Hawaiian Bank Trims Holdings in Brown & Brown, Inc. (NYSE:BRO)

First Hawaiian Bank decreased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 8.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 38,187 shares of the financial services provider’s stock after selling 3,495 shares during the quarter. First Hawaiian Bank’s holdings in Brown & Brown were worth $4,750,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRO. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown during the 4th quarter worth about $28,000. Johnson Financial Group Inc. raised its stake in Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 235 shares during the last quarter. Y.D. More Investments Ltd raised its stake in shares of Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after buying an additional 162 shares in the last quarter. R Squared Ltd purchased a new position in shares of Brown & Brown during the 4th quarter worth approximately $31,000. Finally, Sunbelt Securities Inc. raised its stake in shares of Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock worth $31,000 after buying an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $110.85 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market cap of $31.77 billion, a P/E ratio of 32.04, a P/E/G ratio of 2.93 and a beta of 0.87. The firm has a 50 day simple moving average of $115.06 and a 200 day simple moving average of $111.21. Brown & Brown, Inc. has a fifty-two week low of $85.97 and a fifty-two week high of $125.68.

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

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were paid a $0.15 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown’s payout ratio is currently 16.71%.

Analysts Set New Price Targets

BRO has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their target price on Brown & Brown from $102.00 to $100.00 and set an “underperform” rating on the stock in a report on Monday, May 5th. The Goldman Sachs Group lowered Brown & Brown from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $126.00 to $119.00 in a research report on Tuesday, May 13th. Truist Financial lowered their price objective on Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Jefferies Financial Group boosted their price objective on Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Finally, Edward Jones began coverage on Brown & Brown in a research report on Wednesday, April 16th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $116.85.

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.