UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 416,203 Shares of Brown & Brown, Inc. (NYSE:BRO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Brown & Brown, Inc. (NYSE:BRO) by 23.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,326,076 shares of the financial services provider’s stock after selling 416,203 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Brown & Brown were worth $137,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in Brown & Brown in the 3rd quarter valued at approximately $26,000. Crewe Advisors LLC grew its stake in shares of Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 228 shares during the last quarter. ST Germain D J Co. Inc. increased 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 purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new position in Brown & Brown during the 3rd quarter worth $29,000. Finally, Blue Trust Inc. lifted its holdings in Brown & Brown by 142.3% during the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after buying an additional 323 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BRO shares. Royal Bank of Canada increased their price target on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Bank of America upped their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Jefferies Financial Group lifted their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Truist Financial upped their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brown & Brown has an average rating of “Hold” and a consensus price target of $107.42.

Brown & Brown Stock Down 0.1 %

Shares of NYSE:BRO opened at $113.10 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. Brown & Brown, Inc. has a 52-week low of $69.13 and a 52-week high of $114.15. The business’s 50 day simple moving average is $107.21 and its two-hundred day simple moving average is $99.91. The firm has a market cap of $32.34 billion, a P/E ratio of 30.82, a PEG ratio of 2.60 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. Brown & Brown’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS. As a group, research analysts forecast that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, November 6th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.53%. Brown & Brown’s payout ratio is presently 16.35%.

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.