Teachers Retirement System of The State of Kentucky Decreases Position in Brown & Brown, Inc. (NYSE:BRO)

Teachers Retirement System of The State of Kentucky reduced its stake in Brown & Brown, Inc. (NYSE:BRO) by 2.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 18,723 shares of the financial services provider’s stock after selling 558 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Brown & Brown were worth $1,675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NEOS Investment Management LLC purchased a new position in shares of Brown & Brown in the 4th quarter valued at $232,000. Rafferty Asset Management LLC grew its holdings in shares of Brown & Brown by 6.0% during the fourth quarter. Rafferty Asset Management LLC now owns 83,724 shares of the financial services provider’s stock worth $5,954,000 after purchasing an additional 4,735 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Brown & Brown by 203.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 45,858 shares of the financial services provider’s stock worth $3,261,000 after purchasing an additional 30,764 shares in the last quarter. Cibc World Markets Corp lifted its holdings in shares of Brown & Brown by 45.3% in the 4th quarter. Cibc World Markets Corp now owns 54,917 shares of the financial services provider’s stock valued at $3,905,000 after purchasing an additional 17,110 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in shares of Brown & Brown by 3.5% in the 4th quarter. Stephens Inc. AR now owns 26,351 shares of the financial services provider’s stock valued at $1,874,000 after purchasing an additional 882 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Truist Financial lifted their price target on Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. UBS Group lifted their target price on shares of Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Barclays started coverage on shares of Brown & Brown in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price target for the company. Wells Fargo & Company upgraded shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $94.00 to $112.00 in a research note on Monday, August 12th. Finally, Argus began coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.67.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 sale, the chief financial officer now directly owns 88,445 shares in the company, valued at $8,872,802.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The disclosure for this sale can be found here. 17.02% of the stock is owned by insiders.

Brown & Brown Stock Up 1.0 %

BRO opened at $105.65 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. Brown & Brown, Inc. has a 12 month low of $66.73 and a 12 month high of $106.02. The stock has a market capitalization of $30.14 billion, a P/E ratio of 32.51, a P/E/G ratio of 2.38 and a beta of 0.83. The business has a 50 day simple moving average of $102.45 and a 200-day simple moving average of $93.12.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. Brown & Brown’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. On average, equities analysts anticipate that Brown & Brown, Inc. will post 3.68 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, August 7th. Brown & Brown’s dividend payout ratio (DPR) is 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.