Worldquant Millennium Advisors LLC Raises Stake in Brown & Brown, Inc. (NYSE:BRO)

Worldquant Millennium Advisors LLC boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 140.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 308,395 shares of the financial services provider’s stock after buying an additional 179,934 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Brown & Brown were worth $31,462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors 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 worth approximately $28,000. Johnson Financial Group Inc. lifted its stake in shares of 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 period. Y.D. More Investments Ltd lifted its stake in shares of 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 period. R Squared Ltd purchased a new stake in Brown & Brown during the fourth quarter worth $31,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Brown & Brown during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.4%

Shares of NYSE:BRO opened at $112.50 on Wednesday. Brown & Brown, Inc. has a 1 year low of $85.97 and a 1 year high of $125.68. The firm has a market capitalization of $32.24 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The business’s 50 day moving average price is $116.05 and its 200-day moving average price is $111.15.

Brown & Brown (NYSE:BRO) last announced its 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 business had revenue of $1.40 billion for 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 company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $1.14 EPS. On average, equities research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders 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 yield of 0.53%. Brown & Brown’s payout ratio is currently 16.71%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BRO. Jefferies Financial Group lifted their price objective 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. Keefe, Bruyette & Woods cut their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an “underperform” rating for the company in a report on Monday, May 5th. Edward Jones began coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They issued a “buy” rating for the company. Royal Bank of Canada lifted their price objective 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. Finally, 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 report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.