Brown & Brown, Inc. $BRO Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC lessened its position in Brown & Brown, Inc. (NYSE:BRO) by 4.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 113,762 shares of the financial services provider’s stock after selling 4,728 shares during the period. Segall Bryant & Hamill LLC’s holdings in Brown & Brown were worth $12,613,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Access Investment Management LLC bought a new stake in shares of Brown & Brown in the 2nd quarter worth approximately $1,109,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Brown & Brown by 30.6% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 760,893 shares of the financial services provider’s stock worth $84,360,000 after buying an additional 178,082 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Brown & Brown in the first quarter worth approximately $3,043,000. Jump Financial LLC increased its holdings in shares of Brown & Brown by 737.8% in the first quarter. Jump Financial LLC now owns 99,222 shares of the financial services provider’s stock valued at $12,343,000 after buying an additional 87,379 shares in the last quarter. Finally, Aviva PLC increased its holdings in shares of Brown & Brown by 163.9% in the second quarter. Aviva PLC now owns 158,370 shares of the financial services provider’s stock valued at $17,558,000 after buying an additional 98,350 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of BRO opened at $80.34 on Friday. The business’s 50-day moving average is $87.35 and its 200-day moving average is $97.83. Brown & Brown, Inc. has a fifty-two week low of $76.17 and a fifty-two week high of $125.68. The company has a market capitalization of $27.43 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 1.70 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 6.72.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.15. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The company’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. Equities research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, November 5th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. Brown & Brown’s payout ratio is 19.76%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BRO shares. Argus reissued a “hold” rating on shares of Brown & Brown in a research note on Thursday, July 31st. BMO Capital Markets decreased their price target on Brown & Brown from $122.00 to $106.00 and set an “outperform” rating for the company in a research report on Wednesday, July 30th. Morgan Stanley cut their price objective on Brown & Brown from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, November 17th. Bank of America reiterated a “neutral” rating and issued a $97.00 target price (down from $135.00) on shares of Brown & Brown in a report on Monday, November 3rd. Finally, Wall Street Zen upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Brown & Brown has an average rating of “Hold” and a consensus price target of $102.69.

About Brown & Brown

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.