Hsbc Holdings PLC Grows Stock Position in Brown & Brown, Inc. $BRO

Hsbc Holdings PLC increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 610,737 shares of the financial services provider’s stock after purchasing an additional 21,643 shares during the quarter. Hsbc Holdings PLC’s holdings in Brown & Brown were worth $48,744,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in shares of Brown & Brown by 38.3% during the first quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock worth $4,132,000 after buying an additional 9,264 shares in the last quarter. Focus Partners Wealth raised its holdings in Brown & Brown by 5.2% in the first quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock valued at $1,387,000 after acquiring an additional 547 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Brown & Brown by 1,824.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 53,103 shares of the financial services provider’s stock worth $5,888,000 after acquiring an additional 50,344 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Brown & Brown by 27.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 223 shares during the last quarter. Finally, Cary Street Partners Financial LLC grew its holdings in Brown & Brown by 60.9% during the 2nd quarter. Cary Street Partners Financial LLC now owns 933 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was acquired at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the completion of the purchase, the director owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. This represents a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.13% of the company’s stock.

Brown & Brown Trading Down 0.2%

NYSE:BRO opened at $69.87 on Monday. The company has a market capitalization of $23.68 billion, a PE ratio of 22.47, a P/E/G ratio of 3.22 and a beta of 0.60. Brown & Brown, Inc. has a 52-week low of $53.81 and a 52-week high of $108.75. The stock’s 50 day moving average price is $59.70 and its 200 day moving average price is $67.95. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The company’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. On average, research analysts anticipate that Brown & Brown, Inc. will post 4.52 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were paid a dividend of $0.165 per share. The ex-dividend date was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Brown & Brown’s dividend payout ratio is currently 21.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BRO shares. JPMorgan Chase & Co. reduced their price objective on shares of Brown & Brown from $91.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research note on Friday, June 26th. Truist Financial dropped their target price on Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Keefe, Bruyette & Woods cut their price target on Brown & Brown from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Finally, Weiss Ratings downgraded Brown & Brown from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Five equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $78.25.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.