XTX Topco Ltd Has $467,000 Stake in Brown & Brown, Inc. (NYSE:BRO)

XTX Topco Ltd trimmed its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 61.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,509 shares of the financial services provider's stock after selling 7,094 shares during the quarter. XTX Topco Ltd's holdings in Brown & Brown were worth $467,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in Brown & Brown in the third quarter valued at approximately $26,000. Crewe Advisors LLC boosted its stake in Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider's stock worth $27,000 after purchasing an additional 228 shares during the period. ST Germain D J Co. Inc. boosted its stake in Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider's stock worth $28,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new position in Brown & Brown during the 3rd quarter worth about $29,000. Finally, Blue Trust Inc. raised its stake in shares of Brown & Brown by 142.3% in the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 323 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley started coverage on Brown & Brown in a research report on Thursday, December 5th. They set an "overweight" rating and a $134.00 price objective for the company. Barclays raised their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 21st. Bank of America boosted 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. Truist Financial increased their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price target on shares of Brown & Brown from $113.00 to $118.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $109.46.

Brown & Brown Stock Performance

BRO stock traded up $0.53 during midday trading on Friday, reaching $104.19. 1,208,228 shares of the company were exchanged, compared to its average volume of 1,309,496. The firm has a market capitalization of $29.79 billion, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.84. The business has a 50-day moving average price of $107.92 and a two-hundred day moving average price of $101.20. Brown & Brown, Inc. has a one year low of $69.13 and a one year high of $114.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. Brown & Brown's revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 EPS. Equities research analysts forecast that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently announced 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. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.58%. This is a positive change from Brown & Brown's previous quarterly dividend of $0.13. Brown & Brown's dividend payout ratio (DPR) is 16.35%.

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.