Brown & Brown, Inc. (NYSE:BRO) Holdings Trimmed by Amalgamated Bank

Amalgamated Bank reduced its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 49,530 shares of the financial services provider’s stock after selling 297 shares during the period. Amalgamated Bank’s holdings in Brown & Brown were worth $4,428,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BRO. Crewe Advisors LLC raised its position in Brown & Brown by 330.4% during the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after buying an additional 228 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Brown & Brown during the first quarter worth approximately $32,000. Alaska Permanent Fund Corp purchased a new position in Brown & Brown during the first quarter valued at approximately $36,000. First PREMIER Bank acquired a new position in Brown & Brown in the 1st quarter valued at approximately $40,000. Finally, Intelligent Financial Strategies purchased a new stake in shares of Brown & Brown during the first quarter worth $45,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction that occurred on 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 at this hyperlink. In related news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was 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 can be accessed through the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares in the company, valued at approximately $8,872,802.40. The disclosure for this sale can be found here. Insiders own 17.02% of the company’s stock.

Brown & Brown Stock Down 0.4 %

Shares of BRO stock opened at $101.01 on Friday. The firm has a market cap of $28.81 billion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 2.42 and a beta of 0.83. Brown & Brown, Inc. has a 12 month low of $66.73 and a 12 month high of $106.02. The stock has a 50 day moving average of $100.70 and a 200-day moving average of $91.88. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56.

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

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 annualized dividend and a yield of 0.51%. Brown & Brown’s dividend payout ratio is 16.00%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BRO shares. Truist Financial upped their target price on Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Citigroup raised their target price on Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. UBS Group boosted their price target on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Finally, StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Brown & Brown has an average rating of “Moderate Buy” and a consensus target price of $100.00.

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.