Chevy Chase Trust Holdings LLC Sells 1,541 Shares of Brown & Brown, Inc. (NYSE:BRO)

Chevy Chase Trust Holdings LLC reduced its holdings in Brown & Brown, Inc. (NYSE:BRO) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,245 shares of the financial services provider’s stock after selling 1,541 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Brown & Brown were worth $11,556,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of BRO. Headlands Technologies LLC bought a new stake in Brown & Brown in the 1st quarter valued at $32,000. Alaska Permanent Fund Corp acquired a new position in shares of Brown & Brown during the first quarter worth about $36,000. First PREMIER Bank acquired a new position in shares of Brown & Brown during the first quarter worth about $40,000. Intelligent Financial Strategies bought a new position in shares of Brown & Brown during the first quarter worth about $45,000. Finally, Blue Trust Inc. raised its position in 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 buying an additional 323 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Activity

In other news, EVP Julie Turpin sold 3,350 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $89.92, for a total transaction of $301,232.00. Following the transaction, the executive vice president now owns 23,597 shares of the company’s stock, valued at approximately $2,121,842.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the sale, the chief financial officer now directly owns 88,445 shares in the company, valued at $8,872,802.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Julie Turpin sold 3,350 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $89.92, for a total transaction of $301,232.00. Following the sale, the executive vice president now directly owns 23,597 shares in the company, valued at $2,121,842.24. The disclosure for this sale can be found here. 17.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group boosted their price target on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Raymond James lifted their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Truist Financial upped their target price on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Bank of America raised Brown & Brown from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $91.00 to $101.00 in a research report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Brown & Brown currently has a consensus rating of “Moderate Buy” and an average target price of $99.20.

Brown & Brown Trading Up 0.7 %

Shares of NYSE:BRO traded up $0.68 during mid-day trading on Wednesday, reaching $103.57. 259,477 shares of the company’s stock were exchanged, compared to its average volume of 1,253,543. The firm has a market capitalization of $29.54 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 2.35 and a beta of 0.82. Brown & Brown, Inc. has a twelve month low of $66.73 and a twelve month high of $103.82. The business’s fifty day moving average price is $95.05 and its 200-day moving average price is $88.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.88 by $0.05. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. On average, research analysts predict that Brown & Brown, Inc. will post 3.68 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, August 7th. Brown & Brown’s dividend payout ratio (DPR) is 16.00%.

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.