Brown & Brown, Inc. (NYSE:BRO) Holdings Boosted by Invst LLC

Invst LLC boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,374 shares of the financial services provider’s stock after purchasing an additional 396 shares during the period. Invst LLC’s holdings in Brown & Brown were worth $1,058,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of Brown & Brown by 395.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider’s stock valued at $3,489,000 after acquiring an additional 27,297 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Brown & Brown by 56.8% during the 4th quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider’s stock valued at $19,365,000 after acquiring an additional 68,745 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Brown & Brown by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock valued at $138,394,000 after acquiring an additional 40,881 shares in the last quarter. FORA Capital LLC purchased a new position in shares of Brown & Brown during the 4th quarter valued at $580,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Brown & Brown by 19.9% during the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock valued at $31,055,000 after acquiring an additional 50,510 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BRO has been the topic of several research analyst reports. Truist Financial lowered their price target on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Royal Bank of Canada boosted their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Bank of America boosted their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report 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 company an “overweight” rating in a report on Wednesday, January 29th. Finally, Jefferies Financial Group boosted their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $116.85.

Brown & Brown Stock Up 0.4%

BRO stock opened at $110.83 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 1 year low of $85.97 and a 1 year high of $125.68. The company has a fifty day simple moving average of $115.55 and a 200 day simple moving average of $111.21. The firm has a market cap of $31.76 billion, a PE ratio of 32.03, a PEG ratio of 2.93 and a beta of 0.87.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. Sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, May 12th. Brown & Brown’s dividend payout ratio is 16.71%.

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.