Skandinaviska Enskilda Banken AB publ Has $10.97 Million Stock Holdings in Brown & Brown, Inc. $BRO

Skandinaviska Enskilda Banken AB publ raised its stake in Brown & Brown, Inc. (NYSE:BRO) by 88.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 98,935 shares of the financial services provider’s stock after buying an additional 46,400 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Brown & Brown were worth $10,969,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bares Capital Management Inc. bought a new position in shares of Brown & Brown in the 1st quarter valued at $26,000. SouthState Corp increased its holdings in Brown & Brown by 188.6% in the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 166 shares in the last quarter. ST Germain D J Co. Inc. raised its position in Brown & Brown by 298.5% in the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. Motco acquired a new stake in shares of Brown & Brown during the second quarter valued at about $32,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of Brown & Brown by 1,129.6% during the second quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 305 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.8%

Brown & Brown stock opened at $81.10 on Friday. The firm has a market cap of $27.69 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.70 and a beta of 0.77. Brown & Brown, Inc. has a 52-week low of $76.17 and a 52-week high of $125.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.72 and a current ratio of 2.10. The firm has a 50 day moving average price of $86.24 and a two-hundred day moving average price of $96.77.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the firm posted $0.91 EPS. The company’s quarterly revenue was up 35.4% on a year-over-year basis. Equities analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, November 5th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s dividend payout ratio (DPR) is 19.76%.

Analyst Ratings Changes

BRO has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Brown & Brown from $92.00 to $79.00 and set an “underperform” rating for the company in a report on Tuesday, November 4th. Weiss Ratings restated a “hold (c)” rating on shares of Brown & Brown in a research report on Wednesday. Wolfe Research started coverage on shares of Brown & Brown in a research note on Thursday, November 20th. They set a “peer perform” rating for the company. Truist Financial reduced their price objective on shares of Brown & Brown from $120.00 to $114.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Finally, Wall Street Zen upgraded Brown & Brown from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and a consensus target price of $102.69.

Brown & Brown 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.