Price T Rowe Associates Inc. MD Raises Holdings in Brown & Brown, Inc. (NYSE:BRO)

Price T Rowe Associates Inc. MD increased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 685,257 shares of the financial services provider’s stock after buying an additional 3,990 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Brown & Brown were worth $69,911,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of BRO. Barclays PLC raised its stake in Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after buying an additional 371,980 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of Brown & Brown by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 8,045 shares of the financial services provider’s stock worth $833,000 after purchasing an additional 161 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Brown & Brown during the third quarter worth $58,000. Tidal Investments LLC increased its position in shares of Brown & Brown by 652.8% during the third quarter. Tidal Investments LLC now owns 259,205 shares of the financial services provider’s stock worth $26,854,000 after purchasing an additional 224,772 shares in the last quarter. Finally, Synovus Financial Corp increased its position in shares of Brown & Brown by 1.9% during the third quarter. Synovus Financial Corp now owns 6,157 shares of the financial services provider’s stock worth $638,000 after purchasing an additional 117 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

NYSE:BRO opened at $114.86 on Tuesday. The firm’s fifty day moving average is $118.08 and its two-hundred day moving average is $110.62. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a one year low of $80.91 and a one year high of $125.68. The firm has a market cap of $32.84 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.52%. Brown & Brown’s payout ratio is currently 17.34%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BRO shares. UBS Group upped their price target on Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods upped their price target on Brown & Brown from $97.00 to $102.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 9th. Jefferies Financial Group upped their price target on Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Royal Bank of Canada upped 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. Finally, Truist Financial upped their price target on Brown & Brown from $118.00 to $138.00 and gave the stock a “buy” rating in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $117.50.

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.