Global Retirement Partners LLC Reduces Holdings in Brown & Brown, Inc. (NYSE:BRO)

Global Retirement Partners LLC lowered its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 59.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,782 shares of the financial services provider’s stock after selling 10,005 shares during the period. Global Retirement Partners LLC’s holdings in Brown & Brown were worth $692,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Brown & Brown during the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Brown & Brown during the third quarter valued at approximately $29,000. Y.D. More Investments Ltd raised its stake in shares of Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd purchased a new stake in shares of Brown & Brown during the fourth quarter valued at approximately $31,000. Finally, Versant Capital Management Inc raised its stake in shares of Brown & Brown by 130.7% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $111.65 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $114.15. The firm has a 50-day simple moving average of $105.28 and a 200 day simple moving average of $105.49. The company has a market cap of $31.92 billion, a PE ratio of 32.27, a P/E/G ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is presently 17.34%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BRO. Royal Bank of Canada lifted their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Bank of America raised their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Truist Financial upped their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Barclays boosted their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $113.17.

Brown & Brown Profile

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.