Centennial Bank AR Sells 507 Shares of Brown & Brown, Inc. (NYSE:BRO)

Centennial Bank AR reduced its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,179 shares of the financial services provider’s stock after selling 507 shares during the period. Centennial Bank AR’s holdings in Brown & Brown were worth $847,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. ST Germain D J Co. Inc. raised its holdings in 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 buying an additional 200 shares in the last quarter. Crewe Advisors LLC increased its stake 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 worth $27,000 after purchasing an additional 228 shares during the period. Headlands Technologies LLC bought a new position in shares of Brown & Brown in the first quarter worth about $32,000. Larson Financial Group LLC increased its stake in shares of Brown & Brown by 65.7% in the second quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 211 shares during the period. Finally, Blue Trust Inc. increased its stake 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 worth $48,000 after purchasing an additional 323 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Down 0.4 %

NYSE BRO opened at $104.17 on Monday. The company has a current ratio of 1.73, a quick ratio of 2.35 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $104.20 and its two-hundred day moving average is $96.10. The company has a market capitalization of $29.79 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 2.41 and a beta of 0.82. Brown & Brown, Inc. has a 1-year low of $69.13 and a 1-year high of $107.67.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. Equities analysts forecast that Brown & Brown, Inc. will post 3.73 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be issued a $0.15 dividend. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Wednesday, November 6th. Brown & Brown’s payout ratio is presently 14.17%.

Insider Transactions at Brown & Brown

In other news, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at $8,872,802.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at $8,872,802.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The disclosure for this sale can be found here. 17.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BRO. Jefferies Financial Group lifted their price objective on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Argus began coverage on Brown & Brown in a research note on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective on the stock. Royal Bank of Canada lifted their price objective on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. UBS Group lifted their price objective on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Finally, Truist Financial lifted 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. One 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, Brown & Brown currently has an average rating of “Hold” and a consensus target price of $106.50.

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.