Brown & Brown, Inc. (NYSE:BRO) Position Trimmed by Park National Corp OH

Park National Corp OH reduced its holdings in Brown & Brown, Inc. (NYSE:BRO) by 0.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 51,634 shares of the financial services provider’s stock after selling 166 shares during the period. Park National Corp OH’s holdings in Brown & Brown were worth $6,423,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC bought a new position in Brown & Brown in the fourth quarter worth about $28,000. Johnson Financial Group Inc. lifted its holdings in shares of Brown & Brown by 534.1% in the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 235 shares during the last quarter. Y.D. More Investments Ltd boosted its position in Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd bought a new position in Brown & Brown during the 4th quarter worth $31,000. Finally, Sunbelt Securities Inc. grew its stake in Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock worth $31,000 after buying an additional 256 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Performance

NYSE:BRO opened at $110.85 on Thursday. The company has a 50-day moving average of $115.06 and a 200-day moving average of $111.21. The firm has a market cap of $31.77 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a twelve month low of $85.97 and a twelve month high of $125.68.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 EPS. Analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown’s dividend payout ratio (DPR) is presently 16.71%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods cut their price target on Brown & Brown from $102.00 to $100.00 and set an “underperform” rating on the stock in a report on Monday, May 5th. Royal Bank of Canada boosted their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Truist Financial lowered their target price on Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group lowered Brown & Brown from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $126.00 to $119.00 in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $116.85.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.