Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Golden State Equity Partners

Golden State Equity Partners lowered its holdings in Brown & Brown, Inc. (NYSE:BRO) by 14.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,876 shares of the financial services provider’s stock after selling 1,310 shares during the quarter. Golden State Equity Partners’ holdings in Brown & Brown were worth $804,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new position in shares of Brown & Brown in the 3rd quarter valued at about $26,000. ST Germain D J Co. Inc. increased its holdings in Brown & Brown by 298.5% in the third 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 acquired a new stake in shares of Brown & Brown during the 3rd quarter valued at approximately $29,000. R Squared Ltd purchased a new stake in shares of Brown & Brown during the 4th quarter worth approximately $31,000. Finally, Versant Capital Management Inc grew its holdings in shares of Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 234 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Stock Down 0.8 %

Shares of NYSE BRO opened at $104.65 on Monday. The firm has a market cap of $29.93 billion, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 2.75 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.73 and a current ratio of 1.79. Brown & Brown, Inc. has a 1 year low of $75.79 and a 1 year high of $114.15. The firm’s 50 day moving average price is $105.25 and its 200 day moving average price is $104.32.

Brown & Brown (NYSE:BRO) 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 return on equity of 17.81% and a net margin of 20.68%. As a group, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.15 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

Analyst Ratings Changes

Several equities analysts recently issued reports 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 report on Wednesday, October 30th. Barclays boosted their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Jefferies Financial Group raised their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Morgan Stanley started coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and a consensus target price of $113.17.

About Brown & Brown

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.