TimesSquare Capital Management LLC Sells 20,340 Shares of Brown & Brown, Inc. (NYSE:BRO)

TimesSquare Capital Management LLC trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 539,517 shares of the financial services provider’s stock after selling 20,340 shares during the period. TimesSquare Capital Management LLC owned 0.19% of Brown & Brown worth $38,365,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Legacy Capital Wealth Partners LLC grew its position in Brown & Brown by 2.6% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 6,316 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 158 shares in the last quarter. Tributary Capital Management LLC raised its holdings in Brown & Brown by 1.1% during the fourth quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider’s stock worth $1,186,000 after acquiring an additional 174 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Brown & Brown by 22.8% during the fourth quarter. First Horizon Advisors Inc. now owns 1,008 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 187 shares during the last quarter. Summit Financial LLC grew its stake in Brown & Brown by 6.0% in the third quarter. Summit Financial LLC now owns 3,395 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 191 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Brown & Brown by 0.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,867 shares of the financial services provider’s stock worth $1,527,000 after purchasing an additional 199 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the transaction, the chairman now directly owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.43% of the stock is currently owned by company insiders.

Brown & Brown Stock Performance

Shares of BRO traded up $0.80 during midday trading on Thursday, reaching $85.61. 847,165 shares of the stock were exchanged, compared to its average volume of 1,330,636. The stock’s 50 day simple moving average is $84.20 and its 200 day simple moving average is $77.95. The company has a market cap of $24.42 billion, a P/E ratio of 26.20, a PEG ratio of 2.28 and a beta of 0.79. Brown & Brown, Inc. has a twelve month low of $61.71 and a twelve month high of $87.99. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 EPS. On average, sell-side analysts expect that Brown & Brown, Inc. will post 3.62 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BRO shares. Wells Fargo & Company raised their target price on shares of Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. UBS Group upped their target price on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Raymond James boosted their price target on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada raised their price objective on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Finally, Citigroup boosted their target price on Brown & Brown from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $87.30.

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.