Hunter Associates Investment Management LLC Cuts Stake in Brown & Brown, Inc. (NYSE:BRO)

Hunter Associates Investment Management LLC reduced its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,055 shares of the financial services provider’s stock after selling 315 shares during the period. Hunter Associates Investment Management LLC’s holdings in Brown & Brown were worth $1,071,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BRO. SG Americas Securities LLC increased its position in shares of Brown & Brown by 86.9% in the 4th quarter. SG Americas Securities LLC now owns 24,866 shares of the financial services provider’s stock valued at $1,768,000 after purchasing an additional 11,559 shares during the last quarter. Patton Fund Management Inc. purchased a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $4,765,000. Whittier Trust Co. increased its position in shares of Brown & Brown by 12.1% in the 4th quarter. Whittier Trust Co. now owns 162,226 shares of the financial services provider’s stock valued at $11,536,000 after purchasing an additional 17,479 shares during the last quarter. WCM Investment Management LLC increased its position in shares of Brown & Brown by 13.4% in the 4th quarter. WCM Investment Management LLC now owns 107,979 shares of the financial services provider’s stock valued at $7,658,000 after purchasing an additional 12,748 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Brown & Brown by 28.7% in the 3rd quarter. Toronto Dominion Bank now owns 277,331 shares of the financial services provider’s stock valued at $19,369,000 after purchasing an additional 61,800 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Stock Performance

Shares of BRO stock traded up $1.04 during mid-day trading on Friday, hitting $82.17. The stock had a trading volume of 1,405,884 shares, compared to its average volume of 1,116,438. Brown & Brown, Inc. has a fifty-two week low of $59.91 and a fifty-two week high of $87.99. The firm has a market cap of $23.45 billion, a PE ratio of 26.85, a PEG ratio of 2.52 and a beta of 0.78. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.95 and a quick ratio of 1.95. The company’s 50-day simple moving average is $84.23 and its 200-day simple moving average is $76.72.

Brown & Brown (NYSE:BRO) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. The company had revenue of $1.03 billion during the quarter. During the same quarter last year, the business posted $0.50 EPS. Sell-side analysts anticipate that Brown & Brown, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on BRO shares. UBS Group increased their price objective on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Bank of America cut shares of Brown & Brown from a “neutral” rating to an “underperform” rating and upped their target price for the company from $80.00 to $86.00 in a report on Wednesday, March 13th. Truist Financial upped their target price on shares of Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Wells Fargo & Company upped their target price on shares of Brown & Brown from $81.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Finally, StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. Two 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, the stock has a consensus rating of “Hold” and a consensus target price of $86.80.

Insider Transactions at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’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 sale, the chairman now owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 17.02% of the company’s stock.

Brown & Brown Company 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.