Brown & Brown, Inc. (NYSE:BRO) Stake Lowered by Tributary Capital Management LLC

Tributary Capital Management LLC lowered its position in Brown & Brown, Inc. (NYSE:BRO) by 20.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,251 shares of the financial services provider’s stock after selling 3,426 shares during the quarter. Tributary Capital Management LLC’s holdings in Brown & Brown were worth $1,160,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Alaska Permanent Fund Corp acquired a new stake in shares of Brown & Brown in the first quarter worth $36,000. Fortitude Family Office LLC acquired a new position in shares of Brown & Brown during the fourth quarter worth approximately $31,000. First PREMIER Bank bought a new stake in shares of Brown & Brown in the first quarter valued at approximately $40,000. Park Place Capital Corp grew its stake in shares of Brown & Brown by 166.5% in the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 318 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in Brown & Brown by 174.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 348 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Down 0.3 %

BRO stock opened at $88.81 on Tuesday. The business has a 50-day moving average of $88.14 and a 200-day moving average of $82.64. Brown & Brown, Inc. has a fifty-two week low of $66.53 and a fifty-two week high of $93.75. The stock has a market capitalization of $25.33 billion, a P/E ratio of 27.42, a P/E/G ratio of 2.35 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97.

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

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.52 annualized dividend and a yield of 0.59%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Insider Transactions at Brown & Brown

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

Analyst Upgrades and Downgrades

A number of analysts have commented on BRO shares. Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a research report on Friday, May 3rd. Truist Financial increased their price objective on shares of Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company upped their price target on Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Bank of America raised shares of Brown & Brown from an “underperform” rating to a “neutral” rating and upped their target price for the company from $91.00 to $101.00 in a research note on Wednesday, May 22nd. Finally, Raymond James increased their target price on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $89.40.

About Brown & Brown

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.