FIL Ltd Sells 56,725 Shares of Brown & Brown, Inc. (NYSE:BRO)

FIL Ltd lowered its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 538,433 shares of the financial services provider's stock after selling 56,725 shares during the period. FIL Ltd owned approximately 0.19% of Brown & Brown worth $54,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC bought a new stake in Brown & Brown in the fourth quarter valued at approximately $28,000. Y.D. More Investments Ltd increased its stake in shares of Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after buying an additional 162 shares during the period. R Squared Ltd purchased a new stake in Brown & Brown during the 4th quarter valued at $31,000. SBI Securities Co. Ltd. bought a new stake in Brown & Brown in the 4th quarter worth $37,000. Finally, Versant Capital Management Inc grew its holdings in Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock worth $42,000 after acquiring an additional 234 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BRO. Bank of America increased their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Truist Financial lifted their price objective on Brown & Brown from $118.00 to $138.00 and gave the stock a "buy" rating in a research report on Tuesday. Jefferies Financial Group upped their target price on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a report on Friday. Wells Fargo & Company lifted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $117.50.

Brown & Brown Stock Down 0.5 %

BRO stock traded down $0.55 on Tuesday, reaching $120.35. 598,481 shares of the company traded hands, compared to its average volume of 1,768,219. The firm has a fifty day simple moving average of $116.67 and a 200-day simple moving average of $109.76. The company has a market cap of $34.41 billion, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $125.68. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

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