Vise Technologies Inc. purchased a new stake in Brown & Brown, Inc. (NYSE:BRO – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,539 shares of the financial services provider’s stock, valued at approximately $869,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BRO. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Brown & Brown in the fourth quarter valued at about $46,226,000. Vest Financial LLC increased its position in Brown & Brown by 3.7% during the fourth quarter. Vest Financial LLC now owns 552,994 shares of the financial services provider’s stock worth $44,074,000 after purchasing an additional 19,503 shares during the last quarter. Barr E S & Co. raised its stake in Brown & Brown by 19.0% during the fourth quarter. Barr E S & Co. now owns 362,669 shares of the financial services provider’s stock worth $28,905,000 after purchasing an additional 57,971 shares during the period. Rathbones Group PLC raised its stake in Brown & Brown by 17.7% during the first quarter. Rathbones Group PLC now owns 1,154,219 shares of the financial services provider’s stock worth $75,267,000 after purchasing an additional 173,265 shares during the period. Finally, UBS Group AG boosted its holdings in Brown & Brown by 31.8% in the 4th quarter. UBS Group AG now owns 1,972,258 shares of the financial services provider’s stock valued at $157,189,000 after purchasing an additional 475,951 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Jefferies Financial Group restated a “hold” rating on shares of Brown & Brown in a report on Wednesday, July 29th. Truist Financial set a $90.00 price objective on Brown & Brown in a report on Wednesday, July 29th. Weiss Ratings upgraded Brown & Brown from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Royal Bank Of Canada reissued a “sector perform” rating on shares of Brown & Brown in a research note on Wednesday, July 29th. Finally, Citizens Jmp lifted their target price on Brown & Brown from $70.00 to $78.00 and gave the company a “market outperform” rating in a research report on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus target price of $76.80.
Brown & Brown Stock Down 0.0%
NYSE:BRO opened at $72.89 on Monday. Brown & Brown, Inc. has a 52 week low of $53.81 and a 52 week high of $97.73. The stock’s fifty day moving average is $67.66 and its two-hundred day moving average is $65.75. The stock has a market capitalization of $24.39 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58.
Brown & Brown (NYSE:BRO – Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 earnings per share 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 firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. Research analysts anticipate that Brown & Brown, Inc. will post 4.5 EPS for the current year.
Brown & Brown Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 12th. Brown & Brown’s payout ratio is currently 20.82%.
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.
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