Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,634 shares of the financial services provider's stock after selling 17,612 shares during the quarter. Sterling Capital Management LLC owned about 0.06% of Brown & Brown worth $18,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Brown & Brown in the fourth quarter worth approximately $313,412,000. Madison Investment Advisors LLC purchased a new position in shares of Brown & Brown in the fourth quarter worth $198,031,000. Vanguard Group Inc. lifted its holdings in shares of Brown & Brown by 4.7% during 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 purchasing an additional 1,335,964 shares in the last quarter. Proficio Capital Partners LLC boosted 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 valued at $1,109,000 after buying an additional 1,099,199 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Brown & Brown in the 4th quarter worth about $71,915,000. Institutional investors own 71.01% of the company's stock.

Brown & Brown Price Performance

Shares of Brown & Brown stock traded down $0.20 on Wednesday, hitting $119.33. 479,364 shares of the company traded hands, compared to its average volume of 1,427,275. The stock has a market capitalization of $34.12 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The business has a 50-day simple moving average of $116.90 and a 200 day simple moving average of $109.83. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $125.68. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating 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%. Research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.50%. Brown & Brown's dividend payout ratio is presently 17.34%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Barclays lifted their price target on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods upped their price objective on Brown & Brown from $97.00 to $102.00 and gave the company an "underperform" rating in a research report on Wednesday, April 9th. Truist Financial upped their price target on shares of Brown & Brown from $118.00 to $138.00 and gave the company a "buy" rating in a research report on Tuesday. Royal Bank of Canada upped their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company raised their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $117.50.

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.