Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Fiduciary Trust Co

Fiduciary Trust Co increased its position in Brown & Brown, Inc. (NYSE:BRO) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,250 shares of the financial services provider’s stock after buying an additional 1,114 shares during the quarter. Fiduciary Trust Co’s holdings in Brown & Brown were worth $1,556,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BRO. Vanguard Group Inc. lifted its holdings in Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock valued at $3,054,493,000 after acquiring an additional 1,335,964 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Brown & Brown by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock valued at $1,316,259,000 after purchasing an additional 94,121 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Brown & Brown by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider’s stock worth $620,737,000 after buying an additional 118,569 shares in the last quarter. Capital World Investors boosted its holdings in Brown & Brown by 15.6% during the fourth quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider’s stock worth $428,043,000 after buying an additional 566,116 shares in the last quarter. Finally, Invesco Ltd. grew its position in Brown & Brown by 11.4% in the fourth quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider’s stock worth $388,045,000 after buying an additional 388,411 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group raised their price objective on Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Truist Financial decreased their price target on Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Royal Bank of Canada boosted their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an “underperform” rating for the company in a research note on Monday, May 5th. Finally, Edward Jones initiated coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $116.67.

Brown & Brown Price Performance

BRO opened at $111.42 on Friday. The stock has a fifty day moving average price of $117.15 and a 200 day moving average price of $110.86. 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 stock has a market cap of $31.93 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.93 and a beta of 0.87.

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 the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown’s dividend payout ratio (DPR) 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.