Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 174.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 548 shares of the financial services provider’s stock after acquiring an additional 348 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Brown & Brown were worth $39,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Independent Advisor Alliance lifted its stake in Brown & Brown by 0.3% in the third quarter. Independent Advisor Alliance now owns 51,561 shares of the financial services provider’s stock worth $3,601,000 after acquiring an additional 155 shares during the last quarter. Advisor Partners II LLC lifted its position in shares of Brown & Brown by 1.3% during the 1st quarter. Advisor Partners II LLC now owns 11,845 shares of the financial services provider’s stock worth $680,000 after buying an additional 157 shares during the last quarter. Stephens Inc. AR lifted its position in shares of Brown & Brown by 0.7% during the 1st quarter. Stephens Inc. AR now owns 25,801 shares of the financial services provider’s stock worth $1,481,000 after buying an additional 172 shares during the last quarter. Tributary Capital Management LLC lifted its position in shares of Brown & Brown by 1.1% during the 4th quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider’s stock worth $1,186,000 after buying an additional 174 shares during the last quarter. Finally, Summit Financial LLC lifted its position in shares of Brown & Brown by 6.0% during the 3rd quarter. Summit Financial LLC now owns 3,395 shares of the financial services provider’s stock worth $237,000 after buying an additional 191 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

BRO has been the topic of a number of recent research reports. UBS Group lifted their target price on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Raymond James boosted their price objective on shares of Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Bank of America cut shares of Brown & Brown from a “neutral” rating to an “underperform” rating and upped their price target for the stock from $80.00 to $86.00 in a research note on Wednesday, March 13th. Finally, Truist Financial upped their price target on shares of Brown & Brown from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.80.

Brown & Brown Stock Up 1.3 %

BRO opened at $82.17 on Friday. The firm has a 50 day moving average price of $84.23 and a 200 day moving average price of $76.72. The company has a market cap of $23.45 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 2.55 and a beta of 0.78. Brown & Brown, Inc. has a 1 year low of $59.91 and a 1 year high of $87.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95.

Brown & Brown (NYSE:BRO) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. The company had revenue of $1.03 billion during the quarter. During the same quarter last year, the company posted $0.50 earnings per share. Sell-side analysts expect that Brown & Brown, Inc. will post 3.55 earnings per share for the current year.

Insider Activity

In related news, Chairman Hyatt J. Brown sold 144,323 shares of Brown & Brown stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 17.02% of the company’s stock.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.