KBC Group NV Increases Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

KBC Group NV raised its holdings in Brown & Brown, Inc. (NYSE:BRO) by 30.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,228 shares of the financial services provider’s stock after buying an additional 9,507 shares during the quarter. KBC Group NV’s holdings in Brown & Brown were worth $4,272,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BRO. Crewe Advisors LLC raised its position in shares of Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 228 shares during the last quarter. ST Germain D J Co. Inc. increased its stake in Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Brown & Brown in the third quarter worth $29,000. Blue Trust Inc. lifted its stake in shares of Brown & Brown by 142.3% during the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after buying an additional 323 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Brown & Brown by 65.7% during the second quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after buying an additional 211 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Activity

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.02% of the company’s stock.

Analyst Ratings Changes

BRO has been the subject of a number of research reports. Raymond James lifted their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Bank of America upped their target price on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Truist Financial raised their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Argus initiated coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective on the stock. Finally, Jefferies Financial Group raised their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $106.50.

Brown & Brown Stock Up 0.5 %

BRO opened at $110.05 on Monday. The company has a fifty day moving average of $105.38 and a two-hundred day moving average of $98.09. The stock has a market capitalization of $31.47 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 2.54 and a beta of 0.82. Brown & Brown, Inc. has a fifty-two week low of $69.13 and a fifty-two week high of $114.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73.

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

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, November 6th. Brown & Brown’s dividend payout ratio is presently 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.