Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 48.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 235,617 shares of the financial services provider's stock after buying an additional 76,694 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Brown & Brown worth $24,410,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crewe Advisors LLC lifted its holdings in Brown & Brown by 330.4% during the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 228 shares in the last quarter. ST Germain D J Co. Inc. raised its position in shares of 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 buying an additional 200 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Brown & Brown in the third quarter worth $29,000. Blue Trust Inc. raised its holdings 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 period. Finally, Larson Financial Group LLC raised its position in Brown & Brown by 65.7% during the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 211 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Up 0.3 %

NYSE BRO traded up $0.30 on Wednesday, hitting $109.65. 709,429 shares of the stock were exchanged, compared to its average volume of 1,314,427. Brown & Brown, Inc. has a fifty-two week low of $69.13 and a fifty-two week high of $114.08. The company has a 50-day moving average price of $105.63 and a 200-day moving average price of $98.46. The company has a market cap of $31.36 billion, a PE ratio of 29.80, a PEG ratio of 2.54 and a beta of 0.82. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52.

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

Brown & Brown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.15 per share. This is a positive change from Brown & Brown's previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. Brown & Brown's payout ratio is 16.35%.

Insider Activity

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the business's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 16.43% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Truist Financial boosted 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. Bank of America upped their target price on Brown & Brown from $108.00 to $117.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Royal Bank of Canada raised their price target on shares of Brown & Brown from $113.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Finally, StockNews.com cut Brown & Brown from a "buy" rating to a "hold" rating in a report on Saturday, November 2nd. One 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's stock. According to MarketBeat, the company presently has a consensus 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.