Copeland Capital Management LLC Sells 94,458 Shares of Brown & Brown, Inc. $BRO

Copeland Capital Management LLC lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 93.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,105 shares of the financial services provider’s stock after selling 94,458 shares during the period. Copeland Capital Management LLC’s holdings in Brown & Brown were worth $463,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BRO. Union Bancaire Privee UBP SA purchased a new stake in Brown & Brown in the 1st quarter worth approximately $25,000. Basepoint Wealth LLC bought a new stake in shares of Brown & Brown in the 4th quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new position in shares of Brown & Brown during the second quarter valued at approximately $30,000. DV Equities LLC purchased a new position in shares of Brown & Brown during the fourth quarter valued at approximately $33,000. Finally, Board of the Pension Protection Fund bought a new position in shares of Brown & Brown during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Down 0.2%

BRO opened at $69.29 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 52 week low of $53.81 and a 52 week high of $104.97. The stock has a market cap of $23.49 billion, a PE ratio of 22.28, a PEG ratio of 3.20 and a beta of 0.60. The business has a 50 day moving average of $61.14 and a 200-day moving average of $67.19.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The firm’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 earnings per share. Equities research analysts predict that Brown & Brown, Inc. will post 4.5 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, May 20th. Stockholders of record on Monday, May 11th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, May 11th. Brown & Brown’s payout ratio is 21.22%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. bought 2,000 shares of Brown & Brown stock in a transaction dated Tuesday, May 5th. The shares were purchased at an average cost of $57.10 per share, with a total value of $114,200.00. Following the transaction, the director directly owned 47,621 shares of the company’s stock, valued at $2,719,159.10. This represents a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on BRO. Truist Financial dropped their price target on Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. The Goldman Sachs Group boosted their price objective on shares of Brown & Brown from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Citigroup restated an “outperform” rating on shares of Brown & Brown in a report on Friday, July 10th. Citizens Jmp raised their target price on shares of Brown & Brown from $70.00 to $78.00 and gave the stock a “market outperform” rating in a research report on Friday, July 10th. Finally, Royal Bank Of Canada cut their target price on shares of Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $78.62.

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.