Motley Fool Wealth Management LLC Sells 53,328 Shares of Brown & Brown, Inc. (NYSE:BRO)

Motley Fool Wealth Management LLC lowered its position in Brown & Brown, Inc. (NYSE:BRO) by 15.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 291,156 shares of the financial services provider’s stock after selling 53,328 shares during the period. Brown & Brown accounts for about 1.5% of Motley Fool Wealth Management LLC’s holdings, making the stock its 14th biggest position. Motley Fool Wealth Management LLC’s holdings in Brown & Brown were worth $30,164,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Brown & Brown by 28.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 916 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 201 shares during the period. Mather Group LLC. boosted its stake in Brown & Brown by 15.8% in the 2nd quarter. Mather Group LLC. now owns 2,461 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 335 shares during the period. Simplicity Wealth LLC grew its holdings in Brown & Brown by 5.6% during the 2nd quarter. Simplicity Wealth LLC now owns 2,505 shares of the financial services provider’s stock valued at $224,000 after buying an additional 132 shares in the last quarter. Threadgill Financial LLC increased its position in shares of Brown & Brown by 3.7% during the second quarter. Threadgill Financial LLC now owns 18,363 shares of the financial services provider’s stock valued at $1,642,000 after buying an additional 658 shares during the period. Finally, Spring Capital Management LLC lifted its holdings in shares of Brown & Brown by 8.9% in the second quarter. Spring Capital Management LLC now owns 100,012 shares of the financial services provider’s stock worth $8,942,000 after buying an additional 8,137 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Down 0.2 %

Shares of NYSE BRO opened at $111.38 on Wednesday. The stock has a market capitalization of $31.85 billion, a P/E ratio of 30.35, a PEG ratio of 2.57 and a beta of 0.84. Brown & Brown, Inc. has a one year low of $69.13 and a one year high of $114.15. The firm’s 50 day simple moving average is $107.55 and its two-hundred day simple moving average is $100.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS. As a group, analysts expect that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, November 6th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is 16.35%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Argus began coverage on Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price for the company. Wells Fargo & Company raised their price target on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group boosted their price objective on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus price target of $107.42.

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.