Brown & Brown, Inc. $BRO Position Reduced by Numerai GP LLC

Numerai GP LLC lowered its stake in Brown & Brown, Inc. (NYSE:BRO) by 29.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 21,456 shares of the financial services provider’s stock after selling 8,975 shares during the period. Numerai GP LLC’s holdings in Brown & Brown were worth $2,012,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mariner LLC grew its stake in Brown & Brown by 44.8% in the third quarter. Mariner LLC now owns 74,690 shares of the financial services provider’s stock worth $7,005,000 after purchasing an additional 23,112 shares in the last quarter. Moors & Cabot Inc. raised its stake in Brown & Brown by 2.1% during the third quarter. Moors & Cabot Inc. now owns 6,805 shares of the financial services provider’s stock valued at $638,000 after buying an additional 142 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Brown & Brown by 183.8% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 33,187 shares of the financial services provider’s stock worth $3,113,000 after buying an additional 21,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Brown & Brown by 3.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,161 shares of the financial services provider’s stock worth $2,454,000 after buying an additional 948 shares during the last quarter. Finally, Mirabella Financial Services LLP grew its position in shares of Brown & Brown by 73.9% in the 3rd quarter. Mirabella Financial Services LLP now owns 16,844 shares of the financial services provider’s stock worth $1,577,000 after acquiring an additional 7,160 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of BRO opened at $69.19 on Tuesday. Brown & Brown, Inc. has a 12 month low of $65.68 and a 12 month high of $125.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a fifty day moving average price of $73.25 and a 200 day moving average price of $81.38. The company has a market cap of $23.55 billion, a P/E ratio of 21.62, a PEG ratio of 1.83 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last posted its 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. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the business posted $0.86 earnings per share. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. On average, research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, February 4th. Brown & Brown’s dividend payout ratio (DPR) is 20.63%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Truist Financial dropped their price target on Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Mizuho upgraded shares of Brown & Brown from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $84.00 to $85.00 in a research note on Friday, February 27th. Bank of America dropped their target price on shares of Brown & Brown from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, January 27th. UBS Group restated a “neutral” rating and issued a $81.00 price target (down from $90.00) on shares of Brown & Brown in a research report on Thursday, January 29th. Finally, Argus raised shares of Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat, Brown & Brown has an average rating of “Hold” and a consensus price target of $90.29.

Brown & Brown Company 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.