Deutsche Bank AG Has $146.05 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Deutsche Bank AG grew its holdings in Brown & Brown, Inc. (NYSE:BRO) by 22.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,431,562 shares of the financial services provider’s stock after purchasing an additional 265,179 shares during the quarter. Deutsche Bank AG owned about 0.50% of Brown & Brown worth $146,048,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in BRO. Kohmann Bosshard Financial Services LLC acquired a new stake in Brown & Brown in the 4th quarter worth $28,000. Johnson Financial Group Inc. lifted 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 grew its position in Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after buying an additional 162 shares in the last quarter. R Squared Ltd acquired a new position in Brown & Brown in the 4th quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Brown & Brown in the 4th quarter worth approximately $37,000. 71.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on BRO. Truist Financial cut their target price on Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. UBS Group raised their price objective on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 9th. Edward Jones initiated coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They issued a “buy” rating on the stock. Bank of America raised their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group upped their price objective on Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $116.67.

Brown & Brown Price Performance

Shares of BRO stock opened at $111.42 on Friday. Brown & Brown, Inc. has a 52 week low of $85.97 and a 52 week high of $125.68. The stock has a market capitalization of $31.93 billion, a PE ratio of 32.20, a PEG ratio of 2.93 and a beta of 0.87. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The stock’s fifty day moving average is $117.15 and its 200-day moving average is $110.86.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data 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). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the company earned $1.14 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Monday, May 12th. Brown & Brown’s dividend payout ratio (DPR) is presently 16.71%.

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.