Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Ossiam

Ossiam lessened its position in shares of Brown & Brown, Inc. (NYSE:BROFree Report) by 3.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,829 shares of the financial services provider’s stock after selling 760 shares during the quarter. Ossiam’s holdings in Brown & Brown were worth $1,339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in shares of Brown & Brown in the 4th quarter valued at about $31,000. Park Place Capital Corp grew its stake in Brown & Brown by 166.5% during the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after buying an additional 318 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in Brown & Brown by 174.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after buying an additional 348 shares during the period. Mendota Financial Group LLC acquired a new stake in Brown & Brown in the fourth quarter worth $42,000. Finally, Orion Capital Management LLC acquired a new position in shares of Brown & Brown during the third quarter valued at $56,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BRO. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Bank of America raised Brown & Brown from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $91.00 to $101.00 in a report on Wednesday, May 22nd. Truist Financial upped their price objective on shares of Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Citigroup raised their price objective on shares of Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Keefe, Bruyette & Woods upped their target price on Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.40.

Get Our Latest Stock Analysis on Brown & Brown

Brown & Brown Trading Down 0.7 %

Brown & Brown stock opened at $89.64 on Tuesday. Brown & Brown, Inc. has a 1 year low of $63.37 and a 1 year high of $91.70. The firm’s 50 day moving average price is $85.73 and its two-hundred day moving average price is $80.85. The firm has a market cap of $25.57 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 2.37 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97.

Brown & Brown (NYSE:BROGet Free Report) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. On average, research analysts predict that Brown & Brown, Inc. will post 3.61 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, May 3rd. This represents a $0.52 annualized dividend and a yield of 0.58%. Brown & Brown’s payout ratio is presently 16.00%.

Insider Buying and Selling at Brown & Brown

In other news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the transaction, the executive vice president now directly owns 23,597 shares of the company’s stock, valued at $2,121,842.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 16.43% of the company’s stock.

Brown & Brown Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brown & Brown, Inc. (NYSE:BROFree Report).

Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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