SG Americas Securities LLC Trims Position in Brown & Brown, Inc. (NYSE:BRO)

SG Americas Securities LLC decreased its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 73.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,233 shares of the financial services provider's stock after selling 33,047 shares during the period. SG Americas Securities LLC's holdings in Brown & Brown were worth $1,248,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI lifted its stake in shares of Brown & Brown by 258.0% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider's stock valued at $66,985,000 after buying an additional 465,988 shares in the last quarter. Truist Financial Corp lifted its position in shares of Brown & Brown by 392.3% in the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider's stock valued at $42,287,000 after acquiring an additional 376,892 shares in the last quarter. Barclays PLC boosted its stake in shares of Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock worth $255,537,000 after acquiring an additional 371,980 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of Brown & Brown by 771.5% in the third quarter. Handelsbanken Fonder AB now owns 415,134 shares of the financial services provider's stock worth $43,008,000 after acquiring an additional 367,500 shares during the period. Finally, FMR LLC grew its position in shares of Brown & Brown by 42.4% during the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider's stock worth $114,979,000 after purchasing an additional 330,661 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Trading Down 0.8 %

Shares of NYSE:BRO traded down $0.81 during trading on Friday, hitting $104.65. The company had a trading volume of 677,463 shares, compared to its average volume of 1,625,539. The stock has a market cap of $29.93 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.73. The company has a fifty day simple moving average of $105.40 and a two-hundred day simple moving average of $104.09. Brown & Brown, Inc. has a one year low of $75.79 and a one year high of $114.15.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly 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 return on equity of 17.81% and a net margin of 20.68%. As a group, equities analysts forecast that Brown & Brown, Inc. will post 4.15 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.57%. Brown & Brown's payout ratio is 17.34%.

Analysts Set New Price Targets

BRO has been the subject of several recent analyst reports. Truist Financial upped their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Morgan Stanley started coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They set an "overweight" rating and a $134.00 target price for the company. Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company raised their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, StockNews.com downgraded Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $113.17.

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.