Radnor Capital Management LLC Raises Holdings in Brown & Brown, Inc. (NYSE:BRO)

Radnor Capital Management LLC boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,690 shares of the financial services provider’s stock after buying an additional 500 shares during the period. Radnor Capital Management LLC’s holdings in Brown & Brown were worth $580,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of BRO. The Manufacturers Life Insurance Company raised its position in shares of Brown & Brown by 24.6% in 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 acquiring an additional 687,783 shares in the last quarter. Zurich Insurance Group Ltd FI grew its stake in Brown & Brown by 258.0% in the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after purchasing an additional 465,988 shares during the last quarter. Truist Financial Corp lifted its position in shares of Brown & Brown by 392.3% during the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock valued at $42,287,000 after buying an additional 376,892 shares during the last quarter. Barclays PLC lifted its position in shares of Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after buying an additional 371,980 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Brown & Brown by 771.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 415,134 shares of the financial services provider’s stock valued at $43,008,000 after buying an additional 367,500 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

BRO has been the subject of several recent analyst reports. Argus initiated coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 price objective for the company. Bank of America upped their price target on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley assumed coverage on Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective for the company. Truist Financial upped their target price on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price target on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $112.08.

Brown & Brown Trading Up 0.1 %

Brown & Brown stock opened at $103.70 on Thursday. The stock has a 50-day moving average price of $106.54 and a 200 day moving average price of $103.04. The company has a market capitalization of $29.65 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 2.40 and a beta of 0.85. Brown & Brown, Inc. has a 52 week low of $73.23 and a 52 week high of $114.15. 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 quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate 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 net margin of 22.65% and a return on equity of 17.12%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. Sell-side analysts anticipate that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.58%. This is a positive change 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 Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.