10,861 Shares in Brown & Brown, Inc. $BRO Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC acquired a new position in shares of Brown & Brown, Inc. (NYSE:BRO) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,861 shares of the financial services provider’s stock, valued at approximately $697,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Brown & Brown by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 37,634,847 shares of the financial services provider’s stock valued at $2,999,497,000 after acquiring an additional 303,955 shares during the last quarter. Capital World Investors boosted its stake in Brown & Brown by 2.3% in the fourth quarter. Capital World Investors now owns 17,886,395 shares of the financial services provider’s stock valued at $1,425,546,000 after buying an additional 407,006 shares in the last quarter. Principal Financial Group Inc. grew its position in Brown & Brown by 1.6% in the first quarter. Principal Financial Group Inc. now owns 15,608,720 shares of the financial services provider’s stock valued at $1,017,847,000 after acquiring an additional 246,172 shares during the last quarter. State Street Corp raised its stake in Brown & Brown by 2.2% during the fourth quarter. State Street Corp now owns 13,403,814 shares of the financial services provider’s stock worth $1,068,284,000 after acquiring an additional 282,988 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Brown & Brown by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 7,952,957 shares of the financial services provider’s stock worth $631,495,000 after acquiring an additional 118,225 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Performance

Shares of BRO stock opened at $68.77 on Tuesday. The company has a market cap of $23.01 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 3.52 and a beta of 0.59. Brown & Brown, Inc. has a 52 week low of $53.81 and a 52 week high of $98.30. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $66.73 and a 200-day moving average of $65.76.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.71 billion. Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period last year, the firm posted $1.03 earnings per share. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.5 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 12th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 12th. Brown & Brown’s dividend payout ratio is 20.82%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BRO shares. Mizuho increased their price objective on shares of Brown & Brown from $81.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Weiss Ratings downgraded Brown & Brown from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Citigroup cut Brown & Brown from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $70.00 to $79.00 in a report on Wednesday, July 29th. Jefferies Financial Group reissued a “hold” rating on shares of Brown & Brown in a research note on Wednesday, July 29th. Finally, Truist Financial set a $90.00 price objective on shares of Brown & Brown in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $76.47.

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.