ProShare Advisors LLC Has $188.34 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

ProShare Advisors LLC decreased its stake in Brown & Brown, Inc. (NYSE:BRO) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,846,149 shares of the financial services provider’s stock after selling 25,937 shares during the period. ProShare Advisors LLC owned 0.65% of Brown & Brown worth $188,344,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Brown & Brown in the fourth quarter valued at about $28,000. Johnson Financial Group Inc. increased its stake in shares of Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock valued at $29,000 after buying an additional 235 shares during the period. Y.D. More Investments Ltd increased its stake in shares of Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after buying an additional 162 shares during the period. R Squared Ltd acquired a new stake in shares of Brown & Brown in the fourth quarter valued at about $31,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Brown & Brown in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank of Canada raised their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group lowered Brown & Brown from a “buy” rating to a “neutral” rating and cut their price target for the stock from $126.00 to $119.00 in a report on Tuesday. Barclays increased their price target on Brown & Brown from $119.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, April 11th. Edward Jones started coverage on Brown & Brown in a report on Wednesday, April 16th. They issued a “buy” rating on the stock. Finally, Truist Financial cut their price target on Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $116.85.

Brown & Brown Stock Down 0.6%

BRO stock opened at $108.40 on Thursday. Brown & Brown, Inc. has a twelve month low of $85.97 and a twelve month high of $125.68. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $116.57 and its 200-day moving average is $110.91. The firm has a market capitalization of $31.07 billion, a PE ratio of 31.33, a P/E/G ratio of 2.93 and a beta of 0.87.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 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 the consensus estimate of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 earnings per share. Sell-side analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be issued a dividend of $0.15 per share. 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 0.55%. Brown & Brown’s dividend payout ratio (DPR) is currently 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.