Mn Services Vermogensbeheer B.V. Raises Stake in Brown & Brown, Inc. (NYSE:BRO)

Mn Services Vermogensbeheer B.V. raised its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,400 shares of the financial services provider’s stock after acquiring an additional 1,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Brown & Brown were worth $9,631,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Private Advisor Group LLC grew its holdings in shares of Brown & Brown by 26.1% in the third quarter. Private Advisor Group LLC now owns 7,467 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 1,544 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Brown & Brown by 11.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,853 shares of the financial services provider’s stock valued at $1,435,000 after buying an additional 1,380 shares during the period. State of Alaska Department of Revenue lifted its position in Brown & Brown by 6.9% during the third quarter. State of Alaska Department of Revenue now owns 27,508 shares of the financial services provider’s stock valued at $2,849,000 after buying an additional 1,765 shares during the period. J.W. Cole Advisors Inc. purchased a new position in Brown & Brown during the third quarter valued at $216,000. Finally, abrdn plc raised its position in shares of Brown & Brown by 11.5% in the 3rd quarter. abrdn plc now owns 98,603 shares of the financial services provider’s stock worth $10,124,000 after purchasing an additional 10,150 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BRO has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Barclays boosted their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, Keefe, Bruyette & Woods cut their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Stock Up 1.8 %

Shares of BRO opened at $118.59 on Friday. The stock has a market capitalization of $33.91 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $118.80. The business’s 50 day simple moving average is $106.24 and its 200-day simple moving average is $105.86. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. As a group, equities analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

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.