Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 12.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 251,839 shares of the financial services provider’s stock after buying an additional 27,879 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.09% of Brown & Brown worth $21,855,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its stake in shares of Brown & Brown by 2.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock worth $23,390,000 after buying an additional 6,613 shares during the last quarter. Sei Investments Co. raised its stake in Brown & Brown by 12.7% in the 1st quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock valued at $24,169,000 after purchasing an additional 31,071 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Brown & Brown by 206.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,302 shares of the financial services provider’s stock valued at $1,088,000 after purchasing an additional 10,301 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Brown & Brown by 55.4% in the 4th quarter. Russell Investments Group Ltd. now owns 358,929 shares of the financial services provider’s stock valued at $25,519,000 after purchasing an additional 127,903 shares during the last quarter. Finally, WCM Investment Management LLC raised its stake in Brown & Brown by 13.4% in the 4th quarter. WCM Investment Management LLC now owns 107,979 shares of the financial services provider’s stock valued at $7,658,000 after purchasing an additional 12,748 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on BRO. Bank of America raised shares of Brown & Brown from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $91.00 to $101.00 in a research note on Wednesday, May 22nd. Royal Bank of Canada boosted their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. UBS Group boosted their target price on shares of Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Wells Fargo & Company upped their price objective on shares of Brown & Brown from $88.00 to $94.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Truist Financial upped their price objective on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One equities research 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. According to data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average target price of $97.40.

Brown & Brown Stock Up 0.4 %

NYSE BRO traded up $0.42 on Friday, reaching $101.22. The company had a trading volume of 1,420,825 shares, compared to its average volume of 1,216,174. The firm has a market capitalization of $28.87 billion, a PE ratio of 31.14, a P/E/G ratio of 2.51 and a beta of 0.82. Brown & Brown, Inc. has a 1 year low of $66.73 and a 1 year high of $103.16. The firm has a 50-day moving average of $92.29 and a 200-day moving average of $86.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. Brown & Brown’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. On average, equities research analysts anticipate that Brown & Brown, Inc. will post 3.67 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Wednesday, August 7th. Brown & Brown’s dividend payout ratio is presently 16.00%.

Insiders Place Their Bets

In other news, EVP Julie Turpin sold 3,350 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $89.92, for a total transaction of $301,232.00. Following the completion of the transaction, the executive vice president now directly owns 23,597 shares in the company, valued at approximately $2,121,842.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 17.02% of the stock is owned by company insiders.

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.