Asset Management One Co. Ltd. Boosts Holdings in Brown & Brown, Inc. (NYSE:BRO)

Asset Management One Co. Ltd. lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,091 shares of the financial services provider’s stock after purchasing an additional 3,600 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Brown & Brown were worth $9,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Brown & Brown by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider’s stock valued at $2,482,223,000 after purchasing an additional 203,105 shares during the period. Principal Financial Group Inc. grew its stake in shares of Brown & Brown by 0.7% during the 2nd quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock valued at $1,144,893,000 after acquiring an additional 86,824 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Brown & Brown by 0.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock worth $405,638,000 after purchasing an additional 28,180 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Brown & Brown by 24.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after purchasing an additional 687,783 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in Brown & Brown by 105.1% in the 2nd quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock worth $184,930,000 after purchasing an additional 1,059,711 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 16.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BRO. Argus started coverage on Brown & Brown in a report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price objective on the stock. Bank of America raised their price target on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Truist Financial raised their price target on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price target on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company lifted their target price on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $106.50.

Brown & Brown Stock Performance

NYSE BRO opened at $110.35 on Friday. The stock has a fifty day simple moving average of $104.61 and a 200-day simple moving average of $96.65. Brown & Brown, Inc. has a twelve month low of $69.13 and a twelve month high of $114.08. The stock has a market cap of $31.56 billion, a PE ratio of 30.07, a P/E/G ratio of 2.43 and a beta of 0.82. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company earned $0.71 EPS. Brown & Brown’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts anticipate that Brown & Brown, Inc. will post 3.73 earnings per share for the current year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be paid a $0.15 dividend. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, November 6th. Brown & Brown’s dividend payout ratio (DPR) is 14.17%.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.