Brown & Brown, Inc. (NYSE:BRO) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC reduced its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 391,872 shares of the financial services provider’s stock after selling 22,155 shares during the period. TimesSquare Capital Management LLC’s holdings in Brown & Brown were worth $39,979,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BRO. Zurich Insurance Group Ltd FI increased its position in Brown & Brown by 258.0% during the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock worth $66,985,000 after purchasing an additional 465,988 shares during the last quarter. Barclays PLC increased its position in shares of Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after acquiring an additional 371,980 shares during the last quarter. FMR LLC increased its position in shares of Brown & Brown by 42.4% during the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after acquiring an additional 330,661 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Brown & Brown by 129.3% during the third quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider’s stock valued at $56,670,000 after acquiring an additional 308,458 shares during the last quarter. Finally, EULAV Asset Management increased its position in shares of Brown & Brown by 144.8% during the fourth quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock valued at $43,960,000 after acquiring an additional 254,900 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Up 0.8 %

Shares of Brown & Brown stock opened at $111.43 on Wednesday. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $114.15. The company has a 50 day moving average of $104.64 and a 200 day moving average of $105.19. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $31.86 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.90 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping 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%. As a group, research analysts forecast that Brown & Brown, Inc. will post 4.17 EPS for the current fiscal year.

Brown & Brown Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on BRO shares. Barclays raised their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Truist Financial raised their price objective 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. Morgan Stanley started coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective for the company. Keefe, Bruyette & Woods lowered their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Finally, Wells Fargo & Company raised their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. 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, Brown & Brown currently has an average rating of “Hold” and an average target price 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.