4,161,199 Shares in Brown & Brown, Inc. $BRO Bought by Deutsche Bank AG

Deutsche Bank AG purchased a new stake in Brown & Brown, Inc. (NYSE:BRO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,161,199 shares of the financial services provider’s stock, valued at approximately $266,941,000. Deutsche Bank AG owned 1.24% of Brown & Brown as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Brown & Brown in the fourth quarter worth approximately $516,837,000. Capital International Investors acquired a new stake in shares of Brown & Brown during the fourth quarter valued at approximately $371,654,000. Van Lanschot Kempen Investment Management N.V. lifted its position in shares of Brown & Brown by 132.8% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,538,584 shares of the financial services provider’s stock valued at $361,725,000 after acquiring an additional 2,589,048 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Brown & Brown in the 2nd quarter valued at approximately $88,589,000. Finally, AQR Capital Management LLC boosted its stake in 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 purchasing an additional 1,136,623 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $69.41 on Wednesday. The stock has a market capitalization of $23.23 billion, a P/E ratio of 21.90, a P/E/G ratio of 3.52 and a beta of 0.59. The business has a 50-day moving average of $66.93 and a two-hundred day moving average of $65.74. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $98.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company posted $1.03 EPS. The business’s revenue was up 30.4% on a year-over-year basis. On average, equities research analysts predict that Brown & Brown, Inc. will post 4.5 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, August 12th. Brown & Brown’s dividend payout ratio (DPR) is 20.82%.

Analysts Set New Price Targets

Several analysts have issued reports on BRO shares. Wells Fargo & Company cut their target price on shares of Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 9th. Morgan Stanley downgraded Brown & Brown from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $60.00 to $55.00 in a report on Monday, July 6th. Mizuho upped their price target on Brown & Brown from $81.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Truist Financial set a $90.00 price objective on Brown & Brown in a research note on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $72.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $76.47.

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.