Thrivent Financial for Lutherans cut its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 40.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 139,509 shares of the financial services provider's stock after selling 96,108 shares during the period. Thrivent Financial for Lutherans' holdings in Brown & Brown were worth $14,274,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Curio Wealth LLC acquired a new position in Brown & Brown during the 4th quarter valued at about $122,000. Signaturefd LLC increased its holdings in shares of Brown & Brown by 14.3% during the fourth quarter. Signaturefd LLC now owns 1,812 shares of the financial services provider's stock valued at $185,000 after acquiring an additional 227 shares in the last quarter. SlateStone Wealth LLC raised its position in shares of Brown & Brown by 2.3% in the 4th quarter. SlateStone Wealth LLC now owns 15,750 shares of the financial services provider's stock valued at $1,607,000 after purchasing an additional 350 shares during the last quarter. Glenview Trust co grew its position in Brown & Brown by 7.7% during the 4th quarter. Glenview Trust co now owns 9,749 shares of the financial services provider's stock worth $995,000 after purchasing an additional 701 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in Brown & Brown by 6.8% during the 4th quarter. Corient Private Wealth LLC now owns 411,950 shares of the financial services provider's stock valued at $42,027,000 after purchasing an additional 26,065 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on BRO shares. Bank of America lifted their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Royal Bank of Canada boosted their price target on Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods reduced their price objective on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a research note on Friday, January 10th. Morgan Stanley reiterated an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a research report on Tuesday. Finally, Wells Fargo & Company raised their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $112.67.
Check Out Our Latest Analysis on BRO
Brown & Brown Stock Performance
Shares of BRO traded up $0.36 during trading hours on Wednesday, hitting $121.75. The stock had a trading volume of 903,504 shares, compared to its average volume of 1,298,086. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $122.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market capitalization of $34.81 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.93 and a beta of 0.86. The firm has a 50-day moving average price of $112.28 and a 200 day moving average price of $107.94.
Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating 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%. As a group, research analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.
Brown & Brown Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's payout ratio is 17.34%.
Brown & Brown Company Profile
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Free Report)
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.
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