Chevy Chase Trust Holdings LLC Sells 2,395 Shares of Brown & Brown, Inc. (NYSE:BRO)

Chevy Chase Trust Holdings LLC trimmed its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 1.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 124,549 shares of the financial services provider's stock after selling 2,395 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Brown & Brown were worth $12,706,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BRO. Creative Planning raised its stake in shares of Brown & Brown by 0.4% in the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider's stock valued at $3,097,000 after acquiring an additional 112 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Brown & Brown by 22.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,059 shares of the financial services provider's stock valued at $317,000 after acquiring an additional 554 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Brown & Brown by 10.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,054 shares of the financial services provider's stock valued at $2,596,000 after acquiring an additional 2,454 shares in the last quarter. Trust Point Inc. raised its stake in shares of Brown & Brown by 4.3% in the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider's stock valued at $261,000 after acquiring an additional 103 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Brown & Brown by 166.2% in the 3rd quarter. Blue Trust Inc. now owns 1,464 shares of the financial services provider's stock valued at $152,000 after acquiring an additional 914 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on BRO shares. Keefe, Bruyette & Woods dropped their price target on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a research report on Friday, January 10th. StockNews.com downgraded Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. Bank of America lifted their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Wells Fargo & Company lifted their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, Truist Financial lifted their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Brown & Brown has an average rating of "Hold" and a consensus target price of $113.17.

Brown & Brown Price Performance

Brown & Brown stock traded down $0.63 on Thursday, reaching $111.69. The company's stock had a trading volume of 1,483,119 shares, compared to its average volume of 1,581,993. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $31.93 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 2.91 and a beta of 0.86. The business's fifty day moving average price is $104.97 and its 200 day moving average price is $105.31. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $114.15.

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

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Wednesday, February 5th. Brown & Brown's dividend payout ratio is currently 17.34%.

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.