Brown & Brown, Inc. $BRO Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. cut its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 96.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 551 shares of the financial services provider’s stock after selling 15,238 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Brown & Brown were worth $60,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of BRO. Bares Capital Management Inc. bought a new position in Brown & Brown during the first quarter valued at about $26,000. ST Germain D J Co. Inc. grew its stake in shares of Brown & Brown by 298.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. SouthState Corp raised its holdings in shares of Brown & Brown by 188.6% in the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 166 shares in the last quarter. Motco acquired a new stake in Brown & Brown during the second quarter valued at approximately $32,000. Finally, Bruce G. Allen Investments LLC lifted its stake in Brown & Brown by 1,129.6% during the second quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 305 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of BRO opened at $80.51 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.72 and a current ratio of 2.10. The firm has a market cap of $27.49 billion, a PE ratio of 24.10, a PEG ratio of 1.70 and a beta of 0.77. The firm’s 50 day moving average price is $86.91 and its 200 day moving average price is $97.29. Brown & Brown, Inc. has a twelve month low of $76.17 and a twelve month high of $125.68.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.90 by $0.15. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. Brown & Brown’s quarterly revenue was up 35.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 EPS. As a group, research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were paid a dividend of $0.165 per share. This is a boost from Brown & Brown’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, November 5th. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. Brown & Brown’s dividend payout ratio is currently 19.76%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America reissued a “neutral” rating and set a $97.00 price objective (down from $135.00) on shares of Brown & Brown in a research note on Monday, November 3rd. Wolfe Research initiated coverage on Brown & Brown in a report on Thursday, November 20th. They set a “peer perform” rating on the stock. Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a research report on Monday, November 3rd. UBS Group reduced their price target on shares of Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Finally, Argus reiterated a “hold” rating on shares of Brown & Brown in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average price target of $102.69.

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.