Brown Brothers Harriman & Co. Has $59.66 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Brown Brothers Harriman & Co. grew its holdings in Brown & Brown, Inc. (NYSE:BRO) by 23.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 575,831 shares of the financial services provider’s stock after purchasing an additional 110,920 shares during the period. Brown Brothers Harriman & Co. owned approximately 0.20% of Brown & Brown worth $59,656,000 as of its most recent SEC filing.

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

Brown & Brown Trading Up 1.2 %

Shares of BRO stock opened at $112.05 on Monday. The company has a market cap of $32.04 billion, a P/E ratio of 30.53, a PEG ratio of 2.58 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 stock has a 50 day simple moving average of $106.16 and a two-hundred day simple moving average of $98.92. 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 posted 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 the consensus estimate of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. Research analysts forecast that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a dividend of $0.15 per share. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s dividend payout ratio is 16.35%.

Insiders Place Their Bets

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 16.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BRO. Truist Financial boosted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their target price on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Royal Bank of Canada lifted their price target on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Finally, Bank of America lifted their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $107.42.

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.