Grantham Mayo Van Otterloo & Co. LLC Takes $377,000 Position in Brown & Brown, Inc. $BRO

Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in Brown & Brown, Inc. (NYSE:BRO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,400 shares of the financial services provider’s stock, valued at approximately $377,000.

Several other large investors also recently bought and sold shares of the stock. Parallel Advisors LLC raised its holdings in shares of Brown & Brown by 4.3% in the second quarter. Parallel Advisors LLC now owns 2,508 shares of the financial services provider’s stock worth $278,000 after buying an additional 103 shares during the last quarter. Covestor Ltd raised its stake in Brown & Brown by 12.6% in the 1st quarter. Covestor Ltd now owns 937 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 105 shares during the last quarter. Tower Wealth Partners Inc. raised its stake in Brown & Brown by 4.6% in the 2nd quarter. Tower Wealth Partners Inc. now owns 2,464 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 108 shares during the last quarter. Western Wealth Management LLC lifted its position in Brown & Brown by 6.0% during the 2nd quarter. Western Wealth Management LLC now owns 1,902 shares of the financial services provider’s stock worth $211,000 after acquiring an additional 108 shares during the period. Finally, Kingsview Wealth Management LLC grew its stake in Brown & Brown by 2.2% during the 2nd quarter. Kingsview Wealth Management LLC now owns 5,267 shares of the financial services provider’s stock valued at $584,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wolfe Research began coverage on Brown & Brown in a research note on Thursday, November 20th. They issued a “peer perform” rating for the company. Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a research report on Monday, November 3rd. UBS Group decreased their price objective on shares of Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Morgan Stanley cut their price objective on shares of Brown & Brown from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, November 17th. Finally, Truist Financial decreased their target price on shares of Brown & Brown from $120.00 to $114.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $102.69.

Brown & Brown Price Performance

NYSE:BRO opened at $81.20 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 6.72. The company has a 50 day moving average price of $86.01 and a 200-day moving average price of $96.48. Brown & Brown, Inc. has a 1-year low of $76.17 and a 1-year high of $125.68. The firm has a market cap of $27.72 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77.

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

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th were paid a $0.165 dividend. The ex-dividend date was Wednesday, November 5th. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s dividend payout ratio (DPR) is presently 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.