Brown & Brown, Inc. (NYSE:BRO) Shares Sold by DRW Securities LLC

DRW Securities LLC decreased its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 62.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,521 shares of the financial services provider's stock after selling 4,156 shares during the quarter. DRW Securities LLC's holdings in Brown & Brown were worth $257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BRO. Norges Bank acquired a new position in shares of Brown & Brown during the 4th quarter worth approximately $313,412,000. Madison Investment Advisors LLC purchased a new stake in Brown & Brown during the 4th quarter worth approximately $198,031,000. Vanguard Group Inc. lifted its position in shares of Brown & Brown by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after acquiring an additional 1,335,964 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Brown & Brown by 11,337.8% during the fourth quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider's stock worth $1,109,000 after purchasing an additional 1,099,199 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Brown & Brown in the 4th quarter valued at $71,915,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BRO has been the topic of several research reports. Truist Financial raised their price target on shares of Brown & Brown from $118.00 to $138.00 and gave the stock a "buy" rating in a research note on Tuesday. Barclays boosted their price objective on Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Royal Bank of Canada lifted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Morgan Stanley reissued an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. Finally, Bank of America increased their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Brown & Brown currently has a consensus rating of "Hold" and an average price target of $117.50.

Brown & Brown Trading Down 0.7 %

BRO traded down $0.80 during mid-day trading on Thursday, hitting $118.00. 772,113 shares of the stock were exchanged, compared to its average volume of 1,428,847. The company has a market cap of $33.74 billion, a PE ratio of 34.11, a PEG ratio of 2.93 and a beta of 0.75. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm's fifty day moving average is $117.11 and its two-hundred day moving average is $109.89. Brown & Brown, Inc. has a 1-year low of $80.33 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Equities analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's dividend payout ratio is currently 17.34%.

Brown & Brown 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.