Brown & Brown, Inc. $BRO Shares Purchased by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,270 shares of the financial services provider’s stock after purchasing an additional 4,089 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Brown & Brown were worth $15,219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Bares Capital Management Inc. purchased a new stake in shares of Brown & Brown during the 1st quarter valued at approximately $26,000. ST Germain D J Co. Inc. increased its stake in Brown & Brown by 298.5% during the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. SouthState Corp raised its position in Brown & Brown by 188.6% in the first quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 166 shares during the period. Motco purchased a new stake in Brown & Brown in the second quarter valued at $32,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of Brown & Brown by 1,129.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 305 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group reduced their price objective on shares of Brown & Brown from $120.00 to $106.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Bank of America restated a “neutral” rating and issued a $97.00 price objective (down from $135.00) on shares of Brown & Brown in a report on Monday, November 3rd. Weiss Ratings cut shares of Brown & Brown from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Barclays decreased their target price on Brown & Brown from $108.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Finally, Raymond James Financial restated an “outperform” rating on shares of Brown & Brown in a report on Monday, November 3rd. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average price target of $104.08.

Brown & Brown Price Performance

Shares of BRO opened at $79.97 on Wednesday. The firm has a market capitalization of $27.30 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 1.70 and a beta of 0.77. The firm’s fifty day simple moving average is $88.18 and its 200-day simple moving average is $98.39. Brown & Brown, Inc. has a twelve month low of $76.17 and a twelve month high of $125.68. The company has a current ratio of 2.10, a quick ratio of 6.72 and a debt-to-equity ratio of 0.62.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 35.4% compared to the same quarter last year. Equities analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, November 5th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s dividend payout ratio (DPR) is currently 19.76%.

Brown & Brown Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.