XTX Topco Ltd Sells 7,094 Shares of Brown & Brown, Inc. (NYSE:BRO)

XTX Topco Ltd lowered its stake in Brown & Brown, Inc. (NYSE:BRO) by 61.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,509 shares of the financial services provider’s stock after selling 7,094 shares during the period. XTX Topco Ltd’s holdings in Brown & Brown were worth $467,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BRO. Brooklyn Investment Group bought a new stake in Brown & Brown in the third quarter valued at $26,000. Crewe Advisors LLC boosted its holdings in Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 228 shares in the last quarter. ST Germain D J Co. Inc. boosted its holdings in Brown & Brown by 298.5% in 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 acquiring an additional 200 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Brown & Brown in the third quarter valued at $29,000. Finally, Blue Trust Inc. boosted its holdings in Brown & Brown by 142.3% in the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 323 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BRO. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Barclays raised their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Bank of America raised their price objective on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Argus initiated coverage on Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Brown & Brown has a consensus rating of “Moderate Buy” and an average price target of $109.46.

Brown & Brown Price Performance

BRO opened at $104.19 on Friday. The stock has a 50-day moving average price of $107.92 and a 200-day moving average price of $101.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market cap of $29.79 billion, a PE ratio of 28.39, a P/E/G ratio of 2.40 and a beta of 0.84. Brown & Brown, Inc. has a 1 year low of $69.13 and a 1 year high of $114.15.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned $0.71 EPS. Brown & Brown’s revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts predict that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.58%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s dividend payout ratio (DPR) is presently 16.35%.

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.