Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC reduced its position in Brown & Brown, Inc. (NYSE:BRO) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,738 shares of the financial services provider’s stock after selling 2,668 shares during the quarter. Brown & Brown comprises approximately 1.7% of Mattern Capital Management LLC’s portfolio, making the stock its 7th biggest position. Mattern Capital Management LLC’s holdings in Brown & Brown were worth $12,930,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Brown & Brown in the third quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new stake in Brown & Brown in the third quarter valued at $29,000. Y.D. More Investments Ltd lifted its holdings in Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 162 shares during the period. R Squared Ltd acquired a new stake in Brown & Brown in the fourth quarter valued at $31,000. Finally, Versant Capital Management Inc lifted its holdings in Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 234 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BRO has been the subject of a number of recent analyst reports. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Keefe, Bruyette & Woods reduced their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Royal Bank of Canada raised their target price on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Truist Financial raised their price target on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America raised their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Trading Down 0.6 %

Brown & Brown stock opened at $111.69 on Friday. The stock has a market cap of $31.93 billion, a PE ratio of 32.28, a P/E/G ratio of 2.95 and a beta of 0.86. The stock has a 50-day moving average price of $105.13 and a 200 day moving average price of $105.35. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $114.15. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates 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 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is presently 17.34%.

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.