Brown & Brown, Inc. (NYSE:BRO) Shares Sold by BCM Advisors LLC

BCM Advisors LLC trimmed its stake in Brown & Brown, Inc. (NYSE:BRO) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 111,398 shares of the financial services provider’s stock after selling 6,647 shares during the period. Brown & Brown accounts for about 2.3% of BCM Advisors LLC’s investment portfolio, making the stock its 8th largest holding. BCM Advisors LLC’s holdings in Brown & Brown were worth $8,722,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of BRO. Group One Trading L.P. bought a new stake in shares of Brown & Brown in the 1st quarter worth approximately $201,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Brown & Brown by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,373 shares of the financial services provider’s stock worth $2,267,000 after acquiring an additional 1,950 shares in the last quarter. Cibc World Market Inc. purchased a new stake in Brown & Brown during the first quarter valued at about $354,000. Vontobel Holding Ltd. boosted its position in Brown & Brown by 37.1% during the first quarter. Vontobel Holding Ltd. now owns 5,550 shares of the financial services provider’s stock valued at $404,000 after buying an additional 1,502 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Brown & Brown by 608.0% during the first quarter. Sei Investments Co. now owns 43,409 shares of the financial services provider’s stock valued at $3,135,000 after acquiring an additional 37,278 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 1.3 %

NYSE BRO traded up $1.04 on Friday, reaching $82.17. The stock had a trading volume of 1,403,065 shares, compared to its average volume of 1,329,932. Brown & Brown, Inc. has a 12-month low of $59.91 and a 12-month high of $87.99. The stock has a fifty day moving average price of $84.21 and a two-hundred day moving average price of $76.63. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $23.45 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 2.50 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. The firm had revenue of $1.03 billion for the quarter. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. During the same period last year, the company earned $0.50 EPS. As a group, sell-side analysts forecast that Brown & Brown, Inc. will post 3.44 EPS for the current fiscal year.

Insider Activity at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the transaction, the chairman now owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on BRO. Jefferies Financial Group cut shares of Brown & Brown from a “buy” rating to a “hold” rating and cut their price objective for the stock from $85.00 to $78.00 in a report on Tuesday, January 9th. Citigroup upped their price objective on Brown & Brown from $89.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday. Truist Financial increased their price target on Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Wells Fargo & Company raised their price objective on Brown & Brown from $81.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Finally, StockNews.com upgraded Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.80.

About Brown & Brown

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.