Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Twinbeech Capital LP

Twinbeech Capital LP grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 73.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,667 shares of the financial services provider’s stock after buying an additional 44,437 shares during the period. Twinbeech Capital LP’s holdings in Brown & Brown were worth $10,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Brown & Brown in the 4th quarter valued at $28,000. Johnson Financial Group Inc. raised its position in Brown & Brown by 534.1% in the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 235 shares during the last quarter. Y.D. More Investments Ltd raised its position in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares during the last quarter. R Squared Ltd purchased a new stake in Brown & Brown in the 4th quarter valued at $31,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Brown & Brown in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of BRO opened at $111.95 on Tuesday. The company has a 50-day simple moving average of $116.16 and a 200-day simple moving average of $111.14. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $32.09 billion, a PE ratio of 32.36, a P/E/G ratio of 2.93 and a beta of 0.87. Brown & Brown, Inc. has a 52-week low of $85.97 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. Equities research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. Brown & Brown’s dividend payout ratio is presently 16.71%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group downgraded shares of Brown & Brown from a “buy” rating to a “neutral” rating and reduced their price target for the company from $126.00 to $119.00 in a research report on Tuesday, May 13th. Barclays upped their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, April 11th. Morgan Stanley restated an “equal weight” rating and set a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Truist Financial cut their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Finally, Bank of America upped their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $116.85.

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.