1,159,403 Shares in Brown & Brown, Inc. (NYSE:BRO) Purchased by Congress Asset Management Co. MA

Congress Asset Management Co. MA acquired a new position in shares of Brown & Brown, Inc. (NYSE:BRO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,159,403 shares of the financial services provider’s stock, valued at approximately $82,445,000. Congress Asset Management Co. MA owned approximately 0.41% of Brown & Brown at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BRO. Fortitude Family Office LLC purchased a new stake in shares of Brown & Brown in the fourth quarter valued at about $31,000. Park Place Capital Corp lifted its holdings in shares of Brown & Brown by 166.5% in the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 318 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Brown & Brown by 174.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 348 shares in the last quarter. Mendota Financial Group LLC purchased a new stake in shares of Brown & Brown in the fourth quarter valued at about $42,000. Finally, Quarry LP purchased a new stake in shares of Brown & Brown in the fourth quarter valued at about $54,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

BRO has been the topic of several recent research reports. Wells Fargo & Company upped their price target on shares of Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, April 24th. Truist Financial upped their price objective on shares of Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Bank of America raised shares of Brown & Brown from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $91.00 to $101.00 in a research note on Wednesday, May 22nd. Citigroup upped their price objective on shares of Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Raymond James upped their price objective on shares of Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $89.40.

Brown & Brown Trading Down 0.5 %

BRO stock traded down $0.44 on Friday, hitting $90.08. 648,624 shares of the company were exchanged, compared to its average volume of 1,053,122. Brown & Brown, Inc. has a twelve month low of $64.50 and a twelve month high of $91.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97. The business’s fifty day moving average is $86.14 and its two-hundred day moving average is $81.25. The stock has a market capitalization of $25.70 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 2.38 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.07. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, research analysts forecast that Brown & Brown, Inc. will post 3.61 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Friday, May 3rd. Brown & Brown’s payout ratio is currently 16.00%.

Insider Transactions at Brown & Brown

In other news, EVP Julie Turpin sold 3,350 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the completion of the sale, the executive vice president now owns 23,597 shares of the company’s stock, valued at $2,121,842.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 17.02% of the company’s stock.

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.