Brown & Brown, Inc. $BRO Stake Lifted by Capital World Investors

Capital World Investors grew its position in Brown & Brown, Inc. (NYSE:BRO) by 81.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,479,389 shares of the financial services provider’s stock after buying an additional 7,827,992 shares during the quarter. Capital World Investors owned approximately 0.05% of Brown & Brown worth $1,639,392,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BRO. Cornerstone Planning Group LLC boosted its stake in shares of Brown & Brown by 423.1% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Brown & Brown during the second quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Brown & Brown in the second quarter worth about $49,000. Evelyn Partners Investment Management LLP purchased a new position in shares of Brown & Brown during the second quarter valued at about $52,000. Finally, True Wealth Design LLC increased its holdings in shares of Brown & Brown by 4,369.2% during the third quarter. True Wealth Design LLC now owns 581 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 568 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $71.02 on Tuesday. The stock’s fifty day moving average price is $74.35 and its two-hundred day moving average price is $82.36. The firm has a market cap of $24.18 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 1.97 and a beta of 0.79. Brown & Brown, Inc. has a one year low of $65.68 and a one year 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.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The business’s revenue was up 35.7% compared to the same quarter last year. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 annualized dividend and a yield of 0.9%. Brown & Brown’s payout ratio is currently 20.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BRO. Truist Financial reduced their price target on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. BMO Capital Markets lowered their target price on Brown & Brown from $88.00 to $81.00 and set a “market perform” rating for the company in a report on Thursday, January 29th. Bank of America cut 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. Argus upgraded Brown & Brown to a “hold” rating in a research note on Tuesday, January 27th. Finally, UBS Group reissued a “neutral” rating and issued a $81.00 price target (down from $90.00) on shares of Brown & Brown in a research note on Thursday, January 29th. Four investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.43.

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.