Federated Hermes Inc. Sells 18,668 Shares of Brown & Brown, Inc. (NYSE:BRO)

Federated Hermes Inc. lowered its holdings in Brown & Brown, Inc. (NYSE:BRO) by 8.3% in the 4th quarter, HoldingsChannel reports. The firm owned 206,474 shares of the financial services provider’s stock after selling 18,668 shares during the quarter. Federated Hermes Inc.’s holdings in Brown & Brown were worth $14,682,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Independent Advisor Alliance raised its stake in shares of Brown & Brown by 0.3% during the 3rd quarter. Independent Advisor Alliance now owns 51,561 shares of the financial services provider’s stock worth $3,601,000 after acquiring an additional 155 shares in the last quarter. Tributary Capital Management LLC grew its position in Brown & Brown by 1.1% during the 4th quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 174 shares during the last quarter. Summit Financial LLC grew its position in Brown & Brown by 6.0% during the 3rd quarter. Summit Financial LLC now owns 3,395 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 191 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Brown & Brown by 0.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,867 shares of the financial services provider’s stock worth $1,527,000 after purchasing an additional 199 shares during the last quarter. Finally, Xcel Wealth Management LLC grew its position in Brown & Brown by 3.2% during the 4th quarter. Xcel Wealth Management LLC now owns 6,389 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $82.51 on Tuesday. The company’s fifty day moving average price is $84.23 and its 200 day moving average price is $76.82. Brown & Brown, Inc. has a 1 year low of $60.00 and a 1 year high of $87.99. The company has a market capitalization of $23.54 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. The firm had revenue of $1.03 billion for the quarter. During the same period last year, the company posted $0.50 earnings per share. On average, research analysts predict that Brown & Brown, Inc. will post 3.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BRO has been the topic of several research analyst reports. Citigroup boosted their target price on shares of Brown & Brown from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group raised shares of Brown & Brown from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $84.00 to $83.00 in a research report on Monday, January 8th. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th. Raymond James upped their price objective on shares of Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Finally, Bank of America downgraded shares of Brown & Brown from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $80.00 to $86.00 in a report on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $86.80.

Insider Buying and Selling

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the sale, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 16.43% of the stock is currently owned by insiders.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.