Stonebridge Financial Group LLC Acquires New Holdings in Brown & Brown, Inc. (NYSE:BRO)

Stonebridge Financial Group LLC acquired a new position in Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,431 shares of the financial services provider’s stock, valued at approximately $5,757,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Zurich Insurance Group Ltd FI lifted its stake in shares of Brown & Brown by 258.0% in 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 during the period. Barclays PLC raised its holdings in 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 in the last quarter. FMR LLC raised its holdings in Brown & Brown by 42.4% during the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after purchasing an additional 330,661 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Brown & Brown by 129.3% in the third quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider’s stock worth $56,670,000 after purchasing an additional 308,458 shares during the period. Finally, EULAV Asset Management boosted its stake in Brown & Brown by 144.8% during the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock valued at $43,960,000 after purchasing an additional 254,900 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.3 %

Brown & Brown stock opened at $108.90 on Tuesday. The company has a 50 day moving average price of $104.60 and a 200 day moving average price of $104.82. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.73 and a current ratio of 1.79. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $114.15. The firm has a market capitalization of $31.14 billion, a price-to-earnings ratio of 31.47, a P/E/G ratio of 2.84 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Research analysts forecast that Brown & Brown, Inc. will post 4.15 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. Brown & Brown’s dividend payout ratio is 17.34%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Bank of America boosted their price objective on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Truist Financial lifted their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley assumed coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They set an “overweight” rating and a $134.00 target price for the company. 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $113.17.

About Brown & Brown

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.