Candriam S.C.A. Trims Stock Holdings in Brown & Brown, Inc. $BRO

Candriam S.C.A. lessened its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 217,538 shares of the financial services provider’s stock after selling 12,855 shares during the quarter. Candriam S.C.A.’s holdings in Brown & Brown were worth $20,403,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Tower Wealth Partners Inc. lifted its stake in Brown & Brown by 4.6% during the 2nd quarter. Tower Wealth Partners Inc. now owns 2,464 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 108 shares during the period. Western Wealth Management LLC raised its holdings in shares of Brown & Brown by 6.0% during the second quarter. Western Wealth Management LLC now owns 1,902 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 108 shares during the last quarter. ICONIQ Capital LLC lifted its position in Brown & Brown by 5.4% during the second quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 109 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Brown & Brown by 2.2% in the second quarter. Kingsview Wealth Management LLC now owns 5,267 shares of the financial services provider’s stock valued at $584,000 after purchasing an additional 114 shares during the last quarter. Finally, Freedom Day Solutions LLC boosted its holdings in Brown & Brown by 0.7% in the third quarter. Freedom Day Solutions LLC now owns 18,632 shares of the financial services provider’s stock valued at $1,747,000 after purchasing an additional 129 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $68.60 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.10 and a current ratio of 1.67. The firm has a fifty day moving average of $78.28 and a 200 day moving average of $85.83. The firm has a market cap of $23.42 billion, a PE ratio of 21.44, a PEG ratio of 2.23 and a beta of 0.79. Brown & Brown, Inc. has a one year low of $68.46 and a one year high of $125.68.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The company’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. As a group, research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio is presently 20.63%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BRO shares. Argus raised Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research report on Monday, November 3rd. Keefe, Bruyette & Woods upgraded Brown & Brown from an “underperform” rating to a “market perform” rating and reduced their price target for the company from $80.00 to $73.00 in a research report on Thursday, January 29th. Weiss Ratings restated a “hold (c)” rating on shares of Brown & Brown in a research report on Monday, December 29th. Finally, BMO Capital Markets dropped their price objective on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research note on Thursday, January 29th. Three research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $90.64.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.