Brown & Brown, Inc. $BRO Stock Holdings Cut by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in Brown & Brown, Inc. (NYSE:BRO) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 715,532 shares of the financial services provider’s stock after selling 13,334 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of Brown & Brown worth $43,576,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BRO. Continuum Advisory LLC bought a new stake in shares of Brown & Brown during the second quarter worth $34,000. Allied Private Wealth LLC acquired a new stake in Brown & Brown during the second quarter worth approximately $35,000. Johnson Financial Group Inc. bought a new stake in Brown & Brown during the second quarter worth $37,000. Manchester Capital Management LLC increased its holdings in Brown & Brown by 853.3% in the 3rd quarter. Manchester Capital Management LLC now owns 572 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 512 shares in the last quarter. Finally, Elevation Wealth Partners LLC lifted its stake in shares of Brown & Brown by 175.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 619 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 394 shares during the period. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

BRO has been the subject of a number of research analyst reports. Royal Bank Of Canada restated a “sector perform” rating on shares of Brown & Brown in a report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on Brown & Brown from $80.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, October 1st. Mizuho dropped their price target on Brown & Brown from $83.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 7th. Barclays cut their target price on shares of Brown & Brown from $76.00 to $71.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 7th. Finally, Truist Financial lowered their price target on Brown & Brown from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.47.

Brown & Brown Stock Performance

BRO opened at $73.96 on Thursday. The stock has a market cap of $24.53 billion, a P/E ratio of 15.90, a P/E/G ratio of 2.32 and a beta of 0.52. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $82.57. The firm has a fifty day moving average price of $66.95 and a 200 day moving average price of $66.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.96 and a quick ratio of 1.96.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, October 26th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a net margin of 17.63% and a return on equity of 13.29%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. Equities research analysts anticipate that Brown & Brown, Inc. will post 4.47 earnings per share for the current year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 11th. Investors of record on Wednesday, November 4th will be issued a dividend of $0.18 per share. This is an increase from Brown & Brown’s previous quarterly dividend of $0.1650. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 4th. Brown & Brown’s payout ratio is presently 20.89%.

Brown & Brown Profile

Brown & Brown, Inc is an insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities, individuals and other organizations identify, manage and transfer risk by arranging insurance coverage and providing related advisory services.

Its operations include retail insurance brokerage, national programs, wholesale brokerage and services. Brown & Brown offers property and casualty insurance, employee benefits, personal insurance, surety and other specialized coverage.