Kapitalo Investimentos Ltda Trims Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Kapitalo Investimentos Ltda cut its stake in Brown & Brown, Inc. (NYSE:BRO) by 18.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,106 shares of the financial services provider’s stock after selling 463 shares during the period. Kapitalo Investimentos Ltda’s holdings in Brown & Brown were worth $150,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Brown & Brown by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 28,152,200 shares of the financial services provider’s stock valued at $2,001,903,000 after acquiring an additional 266,441 shares during the last quarter. Principal Financial Group Inc. increased its stake in Brown & Brown by 2.4% in the fourth quarter. Principal Financial Group Inc. now owns 12,325,905 shares of the financial services provider’s stock valued at $876,495,000 after purchasing an additional 294,143 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Brown & Brown by 0.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,236,392 shares of the financial services provider’s stock valued at $372,360,000 after purchasing an additional 29,514 shares during the period. Norges Bank acquired a new position in Brown & Brown in the fourth quarter valued at $217,663,000. Finally, Northern Trust Corp increased its stake in Brown & Brown by 6.1% in the third quarter. Northern Trust Corp now owns 2,285,511 shares of the financial services provider’s stock valued at $159,620,000 after purchasing an additional 130,647 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the sale, the executive vice president now owns 23,597 shares of the company’s stock, valued at $2,121,842.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Truist Financial lifted their price objective on shares of Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods boosted their price target on shares of Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a research note on Friday, May 3rd. Raymond James boosted their price target on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Finally, StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $89.40.

Brown & Brown Trading Up 0.4 %

Shares of BRO opened at $92.41 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average is $86.43 and its two-hundred day moving average is $81.56. Brown & Brown, Inc. has a twelve month low of $65.51 and a twelve month high of $93.05. The firm has a market capitalization of $26.36 billion, a P/E ratio of 28.43, a PEG ratio of 2.42 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business posted $0.84 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, research analysts predict that Brown & Brown, Inc. will post 3.61 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, May 3rd. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.