Corient Private Wealth LLC Has $20.80 Million Stock Holdings in Brown & Brown, Inc. $BRO

Corient Private Wealth LLC trimmed its position in Brown & Brown, Inc. (NYSE:BRO) by 23.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 260,957 shares of the financial services provider’s stock after selling 80,779 shares during the quarter. Corient Private Wealth LLC’s holdings in Brown & Brown were worth $20,800,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ICONIQ Capital LLC grew its position in Brown & Brown by 5.4% in the second quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 109 shares during the last quarter. Zacks Investment Management increased its position in Brown & Brown by 0.7% during the 3rd quarter. Zacks Investment Management now owns 17,854 shares of the financial services provider’s stock worth $1,675,000 after purchasing an additional 125 shares in the last quarter. Private Trust Co. NA lifted its stake in Brown & Brown by 13.1% in the 4th quarter. Private Trust Co. NA now owns 1,147 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 133 shares during the last quarter. Moors & Cabot Inc. boosted its position in Brown & Brown by 2.1% in the third quarter. Moors & Cabot Inc. now owns 6,805 shares of the financial services provider’s stock valued at $638,000 after buying an additional 142 shares in the last quarter. Finally, Aptus Capital Advisors LLC grew its stake in shares of Brown & Brown by 1.7% during the third quarter. Aptus Capital Advisors LLC now owns 9,491 shares of the financial services provider’s stock worth $890,000 after buying an additional 160 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on BRO. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brown & Brown in a research note on Tuesday, June 9th. JPMorgan Chase & Co. lowered their target price on Brown & Brown from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Royal Bank Of Canada dropped their target price on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 29th. Mizuho cut their price target on Brown & Brown from $85.00 to $84.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Finally, Bank of America reduced their price target on Brown & Brown from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and an average price target of $78.44.

Brown & Brown Price Performance

Shares of BRO opened at $58.35 on Tuesday. The business has a 50-day moving average of $60.20 and a 200-day moving average of $68.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $19.78 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 2.72 and a beta of 0.63. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $111.10.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. The business 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 was up 35.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. As a group, equities research analysts anticipate that Brown & Brown, Inc. will post 4.51 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, May 11th. Brown & Brown’s dividend payout ratio is currently 21.22%.

Insider Activity at Brown & Brown

In other news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was bought at an average cost of $57.10 per share, for a total transaction of $114,200.00. Following the completion of the transaction, the director directly owned 47,621 shares in the company, valued at $2,719,159.10. This represents a 4.38% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.13% of the company’s stock.

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.