Brown & Brown, Inc. $BRO Stock Holdings Reduced by Atria Investments Inc

Atria Investments Inc decreased its position in Brown & Brown, Inc. (NYSE:BRO) by 26.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 27,596 shares of the financial services provider’s stock after selling 10,083 shares during the quarter. Atria Investments Inc’s holdings in Brown & Brown were worth $2,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wedbush Securities Inc. lifted its holdings in Brown & Brown by 2.3% in the 3rd quarter. Wedbush Securities Inc. now owns 12,142 shares of the financial services provider’s stock worth $1,139,000 after purchasing an additional 278 shares during the last quarter. Savvy Advisors Inc. bought a new position in shares of Brown & Brown in the third quarter valued at approximately $280,000. ING Groep NV lifted its stake in shares of Brown & Brown by 1.2% in the third quarter. ING Groep NV now owns 13,721 shares of the financial services provider’s stock worth $1,287,000 after buying an additional 166 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Brown & Brown by 8.7% in the third quarter. Rhumbline Advisers now owns 576,772 shares of the financial services provider’s stock worth $54,095,000 after buying an additional 46,081 shares during the last quarter. Finally, Krilogy Financial LLC bought a new stake in shares of Brown & Brown during the 3rd quarter worth $432,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

NYSE BRO opened at $68.47 on Tuesday. Brown & Brown, Inc. has a 1-year low of $65.68 and a 1-year high of $125.68. The company has a 50 day moving average of $77.20 and a 200-day moving average of $84.84. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.55. The firm has a market cap of $23.31 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.07 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company earned $0.86 EPS. Brown & Brown’s revenue for the quarter was up 35.7% on a year-over-year basis. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on BRO. Raymond James Financial reaffirmed 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 decreased their target price for the company from $80.00 to $73.00 in a research note on Thursday, January 29th. Wolfe Research began coverage on Brown & Brown in a report on Thursday, November 20th. They issued a “peer perform” rating on the stock. Citigroup lowered Brown & Brown from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. Finally, Truist Financial reduced their price objective on Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $90.36.

Brown & Brown 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.