Capital International Investors Invests $371.65 Million in Brown & Brown, Inc. $BRO

Capital International Investors acquired a new position in Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,663,165 shares of the financial services provider’s stock, valued at approximately $371,654,000.

Several other hedge funds have also recently made changes to their positions in BRO. Capital World Investors raised its position in shares of Brown & Brown by 81.1% in the 3rd quarter. Capital World Investors now owns 17,479,389 shares of the financial services provider’s stock worth $1,639,392,000 after acquiring an additional 7,827,992 shares in the last quarter. Norges Bank bought a new position in shares of Brown & Brown in the 4th quarter worth about $516,837,000. Vanguard Group Inc. raised its position in shares of Brown & Brown by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider’s stock worth $3,501,264,000 after acquiring an additional 1,705,570 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Brown & Brown by 170.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,931,839 shares of the financial services provider’s stock worth $181,187,000 after acquiring an additional 1,217,071 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Brown & Brown by 1,679.0% in the 3rd quarter. AQR Capital Management LLC now owns 1,204,318 shares of the financial services provider’s stock worth $112,953,000 after acquiring an additional 1,136,623 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on BRO shares. Barclays decreased their target price on Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Citigroup started coverage on Brown & Brown in a research report on Thursday, May 21st. They issued a “market outperform” rating for the company. Wells Fargo & Company decreased their target price on Brown & Brown from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. The Goldman Sachs Group decreased their target price on Brown & Brown from $82.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Finally, Truist Financial decreased their target price on Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $79.44.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $58.85 on Monday. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $111.51. The firm has a market capitalization of $19.95 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 2.71 and a beta of 0.63. The business has a 50-day simple moving average of $61.63 and a 200 day simple moving average of $70.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The company’s quarterly revenue was up 35.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. On average, research analysts anticipate that Brown & Brown, Inc. will post 4.51 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were paid a dividend of $0.165 per share. The ex-dividend date was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. Brown & Brown’s payout ratio is 21.22%.

Insider Transactions at Brown & Brown

In related news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was acquired at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the purchase, the director owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. This trade represents a 4.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 13.13% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.