Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 24.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,104,402 shares of the financial services provider's stock after selling 355,208 shares during the quarter. Legal & General Group Plc owned 0.39% of Brown & Brown worth $112,671,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown in the 4th quarter valued at $28,000. Y.D. More Investments Ltd boosted its position in shares of Brown & Brown by 122.7% during 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 acquired a new position in Brown & Brown in the 4th quarter valued at about $31,000. SBI Securities Co. Ltd. purchased a new stake in Brown & Brown during the 4th quarter worth approximately $37,000. Finally, Versant Capital Management Inc boosted its holdings in Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 234 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analyst Weigh In

BRO has been the topic of a number of recent analyst reports. Edward Jones initiated coverage on shares of Brown & Brown in a research report on Wednesday. They issued a "buy" rating on the stock. Truist Financial lifted their target price on shares of Brown & Brown from $118.00 to $138.00 and gave the company a "buy" rating in a report on Tuesday. Keefe, Bruyette & Woods increased their price objective on Brown & Brown from $97.00 to $102.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 9th. Jefferies Financial Group increased their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Finally, Wells Fargo & Company raised their target price on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $117.50.

Brown & Brown Trading Up 1.0 %

Shares of BRO stock traded up $1.23 during mid-day trading on Wednesday, hitting $120.76. 235,712 shares of the company's stock were exchanged, compared to its average volume of 1,765,097. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $125.68. The stock has a 50-day simple moving average of $116.90 and a two-hundred day simple moving average of $109.83. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $34.53 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 2.93 and a beta of 0.75.

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, 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%. Equities analysts expect that Brown & Brown, Inc. will post 4.18 EPS 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 paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, February 5th. 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.