Mariner LLC Has $6.16 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Mariner LLC increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,382 shares of the financial services provider’s stock after acquiring an additional 3,361 shares during the period. Mariner LLC’s holdings in Brown & Brown were worth $6,160,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted 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 buying an additional 371,980 shares during the period. SkyView Investment Advisors LLC grew its stake in shares of Brown & Brown by 2.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 8,045 shares of the financial services provider’s stock worth $833,000 after acquiring an additional 161 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Brown & Brown in the third quarter valued at approximately $58,000. Tidal Investments LLC lifted its position in shares of Brown & Brown by 652.8% in the third quarter. Tidal Investments LLC now owns 259,205 shares of the financial services provider’s stock worth $26,854,000 after purchasing an additional 224,772 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in Brown & Brown by 1.9% during the third quarter. Synovus Financial Corp now owns 6,157 shares of the financial services provider’s stock worth $638,000 after purchasing an additional 117 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BRO has been the subject of a number of recent research reports. Morgan Stanley restated an “equal weight” rating and set a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. Keefe, Bruyette & Woods increased their price objective on Brown & Brown from $97.00 to $102.00 and gave the company an “underperform” rating in a report on Wednesday, April 9th. UBS Group boosted their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 9th. Bank of America increased their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Truist Financial raised their target price on shares of Brown & Brown from $118.00 to $138.00 and gave the company a “buy” rating in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and an average target price of $117.50.

Brown & Brown Stock Performance

Shares of NYSE:BRO opened at $117.17 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12-month low of $80.87 and a 12-month high of $125.68. The company’s 50 day moving average price is $117.44 and its two-hundred day moving average price is $110.10. The firm has a market cap of $33.50 billion, a PE ratio of 33.86, a PEG ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating 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%. Equities research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s payout ratio is presently 17.34%.

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.