Candriam S.C.A. Sells 21,414 Shares of Brown & Brown, Inc. $BRO

Candriam S.C.A. decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 10.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,909 shares of the financial services provider’s stock after selling 21,414 shares during the quarter. Candriam S.C.A. owned approximately 0.05% of Brown & Brown worth $12,123,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BRO. ICONIQ Capital LLC lifted its position in Brown & Brown by 5.4% during the 2nd quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock worth $234,000 after buying an additional 109 shares in the last quarter. Zacks Investment Management boosted its stake in shares of 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 buying an additional 125 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of 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 acquiring an additional 133 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of Brown & Brown by 2.1% in the 3rd quarter. Moors & Cabot Inc. now owns 6,805 shares of the financial services provider’s stock valued at $638,000 after acquiring an additional 142 shares in the last quarter. Finally, Independent Advisor Alliance increased its position in shares of Brown & Brown by 0.5% in the fourth quarter. Independent Advisor Alliance now owns 33,805 shares of the financial services provider’s stock valued at $2,694,000 after acquiring an additional 162 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Insider Activity

In other Brown & Brown news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was bought at an average cost of $57.10 per share, with a total value of $114,200.00. Following the completion of the transaction, the director directly owned 47,621 shares in the company, valued at approximately $2,719,159.10. This represents a 4.38% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.13% of the stock is currently owned by insiders.

Brown & Brown Stock Down 0.0%

Brown & Brown stock opened at $67.65 on Monday. 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’s 50-day moving average is $60.05 and its 200-day moving average is $67.51. The firm has a market capitalization of $22.93 billion, a PE ratio of 21.75, a P/E/G ratio of 3.12 and a beta of 0.60. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $108.23.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the business posted $1.29 EPS. Brown & Brown’s revenue was up 35.4% on a year-over-year basis. Sell-side analysts anticipate that Brown & Brown, Inc. will post 4.51 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were paid a $0.165 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.66 annualized dividend and a yield of 1.0%. Brown & Brown’s dividend payout ratio is currently 21.22%.

Analyst Ratings Changes

Several analysts recently issued reports on BRO shares. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a report on Friday, June 26th. Citigroup restated an “outperform” rating on shares of Brown & Brown in a research note on Friday. Truist Financial lowered their price target on Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price objective on Brown & Brown from $91.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Finally, Morgan Stanley downgraded Brown & Brown from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $60.00 to $55.00 in a report on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and an average target price of $79.06.

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.