Forte Capital LLC ADV Sells 435 Shares of Brown & Brown, Inc. (NYSE:BRO)

Forte Capital LLC ADV lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 68,529 shares of the financial services provider’s stock after selling 435 shares during the period. Forte Capital LLC ADV’s holdings in Brown & Brown were worth $7,100,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. ST Germain D J Co. Inc. lifted its stake in shares of Brown & Brown by 298.5% during 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 acquiring an additional 200 shares during the period. Crewe Advisors LLC lifted its stake in shares of 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 acquiring an additional 228 shares during the period. Headlands Technologies LLC acquired a new position in shares of Brown & Brown during the first quarter valued at $32,000. Larson Financial Group LLC lifted its stake in shares of Brown & Brown by 65.7% during the second quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 211 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Brown & Brown by 142.3% during the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 323 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BRO shares. Argus initiated coverage on Brown & Brown in a research note on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price on the stock. Wells Fargo & Company raised their price target on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Truist Financial raised their price objective on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays initiated coverage on Brown & Brown in a report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.50.

Insider Buying and Selling

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 16.43% of the stock is currently owned by corporate insiders.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $110.84 on Thursday. Brown & Brown, Inc. has a fifty-two week low of $69.13 and a fifty-two week high of $114.08. The business has a fifty day moving average price of $104.49 and a two-hundred day moving average price of $96.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market capitalization of $31.69 billion, a PE ratio of 30.20, a P/E/G ratio of 2.43 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) 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 company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company posted $0.71 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities analysts predict that Brown & Brown, Inc. will post 3.73 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is currently 14.17%.

Brown & Brown 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.