Brown & Brown, Inc. $BRO Holdings Cut by Hantz Financial Services Inc.

Hantz Financial Services Inc. lowered its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 13.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,811 shares of the financial services provider’s stock after selling 12,585 shares during the period. Hantz Financial Services Inc.’s holdings in Brown & Brown were worth $7,392,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BRO. Cornerstone Planning Group LLC boosted its position in Brown & Brown by 423.1% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Brown & Brown during the 2nd quarter worth about $30,000. Motco acquired a new stake in shares of Brown & Brown during the 2nd quarter valued at about $32,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Brown & Brown in the 2nd quarter valued at approximately $49,000. Finally, Horizon Bancorp Inc. IN acquired a new position in Brown & Brown in the second quarter worth approximately $50,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

NYSE:BRO opened at $74.03 on Thursday. The firm has a market capitalization of $25.28 billion, a PE ratio of 23.13, a PEG ratio of 2.17 and a beta of 0.79. Brown & Brown, Inc. has a 1 year low of $70.45 and a 1 year high of $125.68. The company has a current ratio of 1.67, a quick ratio of 2.10 and a debt-to-equity ratio of 0.55. The firm’s fifty day simple moving average is $78.83 and its 200 day simple moving average is $86.61.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The business’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 earnings per share. On average, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th will be issued a dividend of $0.165 per share. The ex-dividend date is Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Brown & Brown’s payout ratio is 20.63%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research note on Monday, November 3rd. Mizuho reduced their price objective on shares of Brown & Brown from $90.00 to $84.00 and set a “neutral” rating for the company in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods upgraded shares of Brown & Brown from an “underperform” rating to a “market perform” rating and decreased their price objective for the stock from $80.00 to $73.00 in a report on Thursday, January 29th. UBS Group reissued a “neutral” rating and set a $81.00 target price (down from $90.00) on shares of Brown & Brown in a research report on Thursday, January 29th. Finally, Truist Financial reduced their price target on Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $90.64.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.