Osterweis Capital Management Inc. Sells 66,089 Shares of Brown & Brown, Inc. (NYSE:BRO)

Osterweis Capital Management Inc. lowered its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 308,876 shares of the financial services provider's stock after selling 66,089 shares during the period. Brown & Brown comprises about 1.5% of Osterweis Capital Management Inc.'s holdings, making the stock its 24th largest position. Osterweis Capital Management Inc. owned 0.11% of Brown & Brown worth $31,512,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in BRO. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $28,000. Y.D. More Investments Ltd grew its position in 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 purchased a new stake in shares of Brown & Brown during the 4th quarter worth approximately $31,000. SBI Securities Co. Ltd. acquired a new stake in shares of Brown & Brown in the 4th quarter worth approximately $37,000. Finally, Versant Capital Management Inc increased its stake 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 valued at $42,000 after purchasing an additional 234 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analyst Weigh In

BRO has been the subject of several research reports. 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 note on Tuesday, January 28th. Edward Jones assumed coverage on Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating on the stock. Jefferies Financial Group upped their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods lifted their price target on shares of Brown & Brown from $97.00 to $102.00 and gave the company an "underperform" rating in a report on Wednesday, April 9th. Finally, Truist Financial boosted their price objective on shares of Brown & Brown from $118.00 to $138.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $117.50.

Brown & Brown Stock Performance

NYSE BRO traded up $3.48 during trading on Tuesday, hitting $116.90. The company's stock had a trading volume of 397,727 shares, compared to its average volume of 1,432,047. The firm has a 50 day moving average price of $117.53 and a 200 day moving average price of $110.19. The firm has a market cap of $33.43 billion, a P/E ratio of 33.79, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 52 week low of $80.87 and a 52 week high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data 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 net margin of 20.68% and a return on equity of 17.81%. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.51%. Brown & Brown's dividend payout ratio (DPR) is currently 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.