Brown & Brown, Inc. (NYSE:BRO) Shares Bought by National Pension Service

National Pension Service grew its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 366,519 shares of the financial services provider's stock after purchasing an additional 8,776 shares during the period. National Pension Service owned approximately 0.13% of Brown & Brown worth $37,971,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BRO. ST Germain D J Co. Inc. lifted its stake in Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 200 shares during the period. Crewe Advisors LLC raised its stake in shares of Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider's stock valued at $27,000 after buying an additional 228 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Brown & Brown during the 1st quarter valued at about $32,000. Larson Financial Group LLC lifted its holdings in shares of Brown & Brown by 65.7% in the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider's stock valued at $48,000 after buying an additional 211 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Brown & Brown by 142.3% in the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider's stock worth $48,000 after buying an additional 323 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Transactions at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the firm's stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.43% of the company's stock.

Brown & Brown Price Performance

Shares of BRO traded down $0.46 during trading hours on Thursday, hitting $110.35. 1,240,741 shares of the stock were exchanged, compared to its average volume of 1,323,695. The stock's 50-day moving average price is $104.49 and its two-hundred day moving average price is $96.56. Brown & Brown, Inc. has a 12-month low of $69.13 and a 12-month high of $114.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market cap of $31.56 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82.

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

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Wednesday, November 6th. This is a positive change from Brown & Brown's previous quarterly dividend of $0.13. Brown & Brown's payout ratio is currently 14.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BRO shares. Argus assumed coverage on Brown & Brown in a research report on Tuesday, September 24th. They issued a "buy" rating and a $120.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Brown & Brown from $86.00 to $92.00 and gave the company an "underperform" rating in a report on Friday, July 26th. Bank of America upped their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their target price on Brown & Brown from $112.00 to $114.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Finally, Truist Financial upped their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Brown & Brown has an average rating of "Hold" and an average target price of $106.50.

About Brown & Brown

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.