Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 8.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 7,906 shares of the financial services provider’s stock after acquiring an additional 608 shares during the quarter. GAMMA Investing LLC’s holdings in Brown & Brown were worth $807,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Royal London Asset Management Ltd. lifted its holdings in shares of Brown & Brown by 105.1% during the second 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 during the period. The Manufacturers Life Insurance Company raised its position in Brown & Brown by 24.6% during 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 buying an additional 687,783 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its stake in Brown & Brown by 258.0% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after acquiring an additional 465,988 shares during the period. Truist Financial Corp boosted its holdings in shares of Brown & Brown by 392.3% in the 2nd quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock valued at $42,287,000 after acquiring an additional 376,892 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after acquiring an additional 371,980 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BRO. Argus initiated coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price for the company. Bank of America upped their target price on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Jefferies Financial Group raised their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their price objective on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley initiated coverage on shares of Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Brown & Brown presently has an average rating of “Moderate Buy” and a consensus price target of $109.46.

Brown & Brown Stock Up 1.0 %

BRO opened at $101.59 on Friday. The company has a market cap of $29.05 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.40 and a beta of 0.85. Brown & Brown, Inc. has a twelve month low of $69.24 and a twelve month high of $114.15. The company has a 50-day moving average price of $107.11 and a 200 day moving average price of $102.37. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Sell-side analysts expect that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is 16.35%.

Brown & Brown 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.