Spring Capital Management LLC Has $9.87 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Spring Capital Management LLC lifted its position in Brown & Brown, Inc. (NYSE:BRO) by 7.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 96,742 shares of the financial services provider’s stock after buying an additional 6,672 shares during the quarter. Brown & Brown makes up approximately 5.9% of Spring Capital Management LLC’s investment portfolio, making the stock its 4th largest position. Spring Capital Management LLC’s holdings in Brown & Brown were worth $9,870,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in Brown & Brown by 24.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after buying an additional 687,783 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its stake in shares of Brown & Brown by 258.0% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock worth $66,985,000 after acquiring an additional 465,988 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Brown & Brown by 392.3% in the 2nd quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock worth $42,287,000 after acquiring an additional 376,892 shares during the last quarter. Barclays PLC raised 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 worth $255,537,000 after purchasing an additional 371,980 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Brown & Brown by 771.5% during the third quarter. Handelsbanken Fonder AB now owns 415,134 shares of the financial services provider’s stock valued at $43,008,000 after purchasing an additional 367,500 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Down 0.4 %

BRO opened at $105.52 on Friday. The company has a market capitalization of $30.17 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 2.14 and a beta of 0.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. Brown & Brown, Inc. has a fifty-two week low of $73.23 and a fifty-two week high of $114.15. The business has a 50-day moving average of $106.32 and a 200-day moving average of $103.17.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 earnings per share. Equities research analysts forecast that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is presently 16.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Jefferies Financial Group raised their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Barclays boosted their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Truist Financial raised their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods dropped their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $112.08.

Brown & Brown 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.