Brown & Brown, Inc. $BRO Holdings Raised by Capital World Investors

Capital World Investors lifted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,886,395 shares of the financial services provider’s stock after purchasing an additional 407,006 shares during the quarter. Capital World Investors owned about 0.05% of Brown & Brown worth $1,425,546,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of BRO. Basepoint Wealth LLC bought a new stake in Brown & Brown in the fourth quarter worth about $27,000. Darwin Wealth Management LLC bought a new stake in Brown & Brown in the second quarter worth about $30,000. Board of the Pension Protection Fund bought a new stake in Brown & Brown in the fourth quarter worth about $40,000. Maseco LLP bought a new stake in Brown & Brown in the fourth quarter worth about $60,000. Finally, eCIO Inc. bought a new stake in Brown & Brown in the fourth quarter worth about $67,000. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BRO shares. Citizens Jmp started coverage on shares of Brown & Brown in a research report on Thursday, May 21st. They issued a “market outperform” rating and a $70.00 price target on the stock. Citigroup started coverage on Brown & Brown in a research note on Thursday, May 21st. They issued a “market outperform” rating on the stock. Truist Financial dropped their price target on Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price target on Brown & Brown from $91.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Finally, Mizuho dropped their price target on Brown & Brown from $85.00 to $84.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Five investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.44.

Insider Activity at Brown & Brown

In other news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average price of $57.10 per share, with a total value of $114,200.00. Following the purchase, the director owned 47,621 shares in the company, valued at $2,719,159.10. This represents a 4.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.13% of the company’s stock.

Brown & Brown Trading Down 0.0%

NYSE:BRO opened at $58.85 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $111.51. The stock’s 50-day moving average is $61.63 and its two-hundred day moving average is $70.50. The stock has a market cap of $19.95 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 2.71 and a beta of 0.63.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The firm’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. As a group, equities research analysts forecast that Brown & Brown, Inc. will post 4.51 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were paid a $0.165 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.66 annualized dividend and a dividend yield of 1.1%. Brown & Brown’s payout ratio is presently 21.22%.

About Brown & Brown

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.