Clarkston Capital Partners LLC Sells 611,770 Shares of Brown & Brown, Inc. (NYSE:BRO)

Clarkston Capital Partners LLC lessened its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 38.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 976,515 shares of the financial services provider's stock after selling 611,770 shares during the period. Brown & Brown comprises approximately 1.9% of Clarkston Capital Partners LLC's investment portfolio, making the stock its 18th largest holding. Clarkston Capital Partners LLC owned 0.34% of Brown & Brown worth $101,167,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its position in Brown & Brown by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider's stock worth $1,819,000 after buying an additional 100 shares during the last quarter. Trust Point Inc. grew its position in shares of Brown & Brown by 4.3% in the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider's stock valued at $261,000 after purchasing an additional 103 shares during the last quarter. Creative Planning grew its position in shares of Brown & Brown by 0.4% in the third quarter. Creative Planning now owns 29,892 shares of the financial services provider's stock valued at $3,097,000 after purchasing an additional 112 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Brown & Brown by 0.5% in the third quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider's stock valued at $2,375,000 after purchasing an additional 113 shares during the last quarter. Finally, Anchor Investment Management LLC grew its position in shares of Brown & Brown by 4.0% in the second quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider's stock valued at $294,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Insider Activity at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 17.02% of the stock is owned by insiders.

Brown & Brown Trading Down 0.2 %

Brown & Brown stock traded down $0.27 during trading hours on Monday, reaching $109.78. 1,124,257 shares of the company's stock were exchanged, compared to its average volume of 1,319,323. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The firm's 50 day simple moving average is $105.38 and its 200 day simple moving average is $98.09. Brown & Brown, Inc. has a twelve month low of $69.13 and a twelve month high of $114.08. The firm has a market capitalization of $31.39 billion, a PE ratio of 29.91, a PEG ratio of 2.54 and a beta of 0.82.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business posted $0.71 EPS. The business's revenue was up 11.0% compared to the same quarter last year. Research analysts predict that Brown & Brown, Inc. will post 3.73 earnings per share for the current year.

Brown & Brown Increases Dividend

The company 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. The ex-dividend date was Wednesday, November 6th. This is an increase from Brown & Brown's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. Brown & Brown's dividend payout ratio (DPR) is currently 16.35%.

Analysts Set New Price Targets

BRO has been the topic of several research reports. Royal Bank of Canada upped their target price on Brown & Brown from $113.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price target on Brown & Brown from $98.00 to $104.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Truist Financial upped their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their target price on Brown & Brown from $112.00 to $114.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upped their target price on Brown & Brown from $86.00 to $92.00 and gave the stock an "underperform" rating in a research note on Friday, July 26th. One equities research 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $106.50.

Brown & Brown Company 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.