Sepio Capital LP Trims Stake in Brown & Brown, Inc. $BRO

Sepio Capital LP lessened its holdings in Brown & Brown, Inc. (NYSE:BRO) by 74.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,920 shares of the financial services provider’s stock after selling 8,662 shares during the period. Sepio Capital LP’s holdings in Brown & Brown were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bares Capital Management Inc. acquired a new position in shares of Brown & Brown in the 1st quarter worth approximately $26,000. SouthState Corp boosted its position in shares of Brown & Brown by 188.6% during the first quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock worth $32,000 after buying an additional 166 shares during the period. ST Germain D J Co. Inc. boosted its position in shares of Brown & Brown by 298.5% during the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $30,000 after buying an additional 200 shares during the period. Motco acquired a new stake in shares of Brown & Brown in the second quarter valued at $32,000. Finally, Bruce G. Allen Investments LLC raised its holdings in shares of Brown & Brown by 1,129.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock valued at $37,000 after buying an additional 305 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Stock Performance

NYSE:BRO opened at $81.20 on Tuesday. Brown & Brown, Inc. has a 12 month low of $76.17 and a 12 month high of $125.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 6.72. The firm has a market capitalization of $27.72 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The business’s fifty day moving average price is $86.01 and its 200 day moving average price is $96.48.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.During the same period in the previous year, the business earned $0.91 EPS. Brown & Brown’s revenue for the quarter was up 35.4% on a year-over-year basis. On average, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th were paid a $0.165 dividend. This is an increase from Brown & Brown’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, November 5th. Brown & Brown’s payout ratio is currently 19.76%.

Analyst Upgrades and Downgrades

BRO has been the topic of several research reports. Wells Fargo & Company decreased their target price on Brown & Brown from $98.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods cut their price target on shares of Brown & Brown from $92.00 to $79.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 4th. Truist Financial reduced their price target on shares of Brown & Brown from $120.00 to $114.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Raymond James Financial restated an “outperform” rating on shares of Brown & Brown in a report on Monday, November 3rd. Finally, Bank of America reiterated a “neutral” rating and set a $97.00 target price (down from $135.00) on shares of Brown & Brown in a report on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus price target of $102.69.

Brown & Brown 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.