Curi RMB Capital LLC Sells 1,017 Shares of Brown & Brown, Inc. (NYSE:BRO)

Curi RMB Capital LLC reduced its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 33.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,046 shares of the financial services provider’s stock after selling 1,017 shares during the quarter. Curi RMB Capital LLC’s holdings in Brown & Brown were worth $209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Brown & Brown during the 4th quarter valued at about $313,412,000. First Trust Advisors LP grew its position in Brown & Brown by 626.6% in the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider’s stock worth $239,751,000 after purchasing an additional 2,026,589 shares during the period. Madison Investment Advisors LLC purchased a new stake in Brown & Brown during the 4th quarter valued at $198,031,000. Vanguard Group Inc. lifted its holdings in shares of Brown & Brown by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock valued at $3,054,493,000 after buying an additional 1,335,964 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in shares of Brown & Brown by 11,337.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider’s stock worth $1,109,000 after buying an additional 1,099,199 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Trading Down 3.1 %

Shares of BRO stock opened at $113.58 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $32.48 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. Brown & Brown, Inc. has a 12-month low of $80.87 and a 12-month high of $125.68. The stock’s 50-day moving average price is $117.53 and its 200-day moving average price is $110.19.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Equities research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

Analyst Upgrades and Downgrades

BRO has been the topic of several research reports. Royal Bank of Canada raised their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their target price on shares of Brown & Brown from $97.00 to $102.00 and gave the company an “underperform” rating in a report on Wednesday, April 9th. Edward Jones began coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They set a “buy” rating on the stock. UBS Group upped their price objective on Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 9th. Finally, Truist Financial boosted their price target on Brown & Brown from $118.00 to $138.00 and gave the company a “buy” rating in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $117.50.

Brown & Brown Company 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.