Principal Financial Group Inc. Buys 94,121 Shares of Brown & Brown, Inc. (NYSE:BRO)

Principal Financial Group Inc. raised its stake in Brown & Brown, Inc. (NYSE:BRO) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,901,968 shares of the financial services provider’s stock after acquiring an additional 94,121 shares during the quarter. Brown & Brown comprises 0.7% of Principal Financial Group Inc.’s holdings, making the stock its 27th largest position. Principal Financial Group Inc. owned 4.51% of Brown & Brown worth $1,316,259,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Studio Investment Management LLC raised its holdings in Brown & Brown by 1.5% in the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after acquiring an additional 96 shares during the period. Journey Strategic Wealth LLC raised its holdings in Brown & Brown by 2.3% in the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $458,000 after acquiring an additional 99 shares during the period. Trust Point Inc. raised its holdings in Brown & Brown by 4.3% in the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 103 shares during the period. CWA Asset Management Group LLC raised its holdings in Brown & Brown by 3.7% in the 4th quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 103 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in Brown & Brown by 3.4% in the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 103 shares during the period. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Performance

NYSE BRO opened at $110.50 on Monday. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $114.15. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $31.60 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 2.84 and a beta of 0.86. The firm’s 50 day simple moving average is $104.54 and its 200 day simple moving average is $105.12.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, research analysts expect that Brown & Brown, Inc. will post 4.15 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. Brown & Brown’s dividend payout ratio is currently 17.34%.

Analyst Upgrades and Downgrades

BRO has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Barclays raised their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Bank of America raised their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Truist Financial raised their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $113.17.

About Brown & Brown

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.