20,079 Shares in Brown & Brown, Inc. (NYSE:BRO) Bought by Avanza Fonder AB

Avanza Fonder AB bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,079 shares of the financial services provider’s stock, valued at approximately $2,048,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake 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 valued at $311,979,000 after acquiring an additional 687,783 shares in the last quarter. Zurich Insurance Group Ltd FI raised its position in shares of 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 period. Truist Financial Corp raised its position in shares of Brown & Brown by 392.3% in the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock valued at $42,287,000 after purchasing an additional 376,892 shares during the period. Barclays PLC lifted its stake in shares of Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $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% during the 3rd quarter. Handelsbanken Fonder AB now owns 415,134 shares of the financial services provider’s stock worth $43,008,000 after buying an additional 367,500 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BRO shares. Barclays boosted their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada boosted their price objective on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Bank of America raised their target price on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Truist Financial upped their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $112.08.

Brown & Brown Stock Performance

NYSE BRO opened at $105.52 on Friday. The stock has a market cap of $30.17 billion, a P/E ratio of 28.75, a PEG ratio of 2.14 and a beta of 0.85. 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, Inc. has a twelve month low of $73.23 and a twelve month high of $114.15. The company’s 50-day simple moving average is $106.32 and its 200 day simple moving average is $103.27.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.12% and a net margin of 22.65%. Brown & Brown’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. As a group, research analysts forecast that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders 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 was Wednesday, November 6th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is currently 16.35%.

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.