Central Pacific Bank Trust Division Has $78,000 Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Central Pacific Bank Trust Division lessened its holdings in Brown & Brown, Inc. (NYSE:BRO) by 95.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 757 shares of the financial services provider’s stock after selling 17,754 shares during the period. Central Pacific Bank Trust Division’s holdings in Brown & Brown were worth $78,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Anchor Investment Management LLC boosted its position in shares of Brown & Brown by 4.0% in the second quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider’s stock worth $294,000 after buying an additional 125 shares during the period. Point72 DIFC Ltd acquired a new stake in Brown & Brown during the second quarter valued at $117,000. Brightwater Advisory LLC acquired a new stake in Brown & Brown during the second quarter valued at $238,000. Sanctuary Advisors LLC acquired a new stake in Brown & Brown during the second quarter valued at $12,607,000. Finally, Cetera Investment Advisers boosted its position in Brown & Brown by 60.6% during the second quarter. Cetera Investment Advisers now owns 27,338 shares of the financial services provider’s stock valued at $2,444,000 after purchasing an additional 10,313 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Transactions at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now owns 88,445 shares in the company, valued at $8,872,802.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.02% of the stock is currently owned by corporate insiders.

Brown & Brown Stock Performance

Shares of Brown & Brown stock traded up $1.02 during trading on Friday, reaching $105.65. The company’s stock had a trading volume of 1,080,895 shares, compared to its average volume of 1,303,466. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The business’s fifty day moving average price is $102.45 and its 200-day moving average price is $93.12. The firm has a market cap of $30.14 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 2.38 and a beta of 0.83. Brown & Brown, Inc. has a one year low of $66.73 and a one year high of $106.02.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. As a group, equities research analysts predict that Brown & Brown, Inc. will post 3.68 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were paid a $0.13 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.49%. Brown & Brown’s payout ratio is presently 16.00%.

Analysts Set New Price Targets

BRO has been the subject of a number of research reports. UBS Group lifted their price objective on Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. Truist Financial lifted their price objective on Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Argus began coverage on Brown & Brown in a report on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price on the stock. Finally, Wells Fargo & Company upgraded Brown & Brown from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $94.00 to $112.00 in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Brown & Brown presently has an average rating of “Moderate Buy” and an average target price of $101.67.

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.