Oppenheimer Asset Management Inc. Has $2.84 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Oppenheimer Asset Management Inc. trimmed its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 9.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,404 shares of the financial services provider’s stock after selling 2,724 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Brown & Brown were worth $2,839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC lifted its position in shares of Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after buying an additional 228 shares during the last quarter. ST Germain D J Co. Inc. raised 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 valued at $28,000 after acquiring an additional 200 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Brown & Brown during the 3rd quarter valued at $29,000. Headlands Technologies LLC bought a new position in Brown & Brown during the first quarter worth $32,000. Finally, Blue Trust Inc. increased its holdings in shares of Brown & Brown by 142.3% in the second 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 last quarter. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BRO has been the subject of a number of research reports. Jefferies Financial Group raised their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Raymond James increased their target price on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Truist Financial boosted their price target on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $106.50.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.02% of the stock is owned by corporate insiders.

Brown & Brown Trading Up 0.5 %

BRO opened at $110.05 on Friday. The stock has a market capitalization of $31.47 billion, a price-to-earnings ratio of 29.99, a P/E/G ratio of 2.58 and a beta of 0.82. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a twelve month low of $69.13 and a twelve month high of $114.08. The company has a 50-day simple moving average of $105.38 and a 200 day simple moving average of $97.98.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company 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%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 EPS. Analysts predict that Brown & Brown, Inc. will post 3.73 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued 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 0.55%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio 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.