Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC raised its holdings in Brown & Brown, Inc. (NYSE:BRO) by 4.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,648 shares of the financial services provider’s stock after acquiring an additional 159 shares during the quarter. Ballentine Partners LLC’s holdings in Brown & Brown were worth $454,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in BRO. Norges Bank purchased a new position in shares of Brown & Brown in the fourth quarter valued at $313,412,000. First Trust Advisors LP increased its position in shares of Brown & Brown by 626.6% in the fourth quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider’s stock valued at $239,751,000 after buying an additional 2,026,589 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Brown & Brown by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock valued at $3,054,493,000 after buying an additional 1,335,964 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Brown & Brown by 13,974.9% in the first quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider’s stock valued at $138,427,000 after buying an additional 1,104,852 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Brown & Brown by 172.5% in the first quarter. Handelsbanken Fonder AB now owns 1,314,434 shares of the financial services provider’s stock valued at $163,516,000 after buying an additional 832,100 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of research analyst reports. Truist Financial dropped their price target on Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company reiterated an “overweight” rating and set a $127.00 price objective (up previously from $125.00) on shares of Brown & Brown in a research report on Thursday, June 12th. Morgan Stanley reiterated an “equal weight” rating and set a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Edward Jones started coverage on Brown & Brown in a research report on Wednesday, April 16th. They set a “buy” rating for the company. Finally, UBS Group lifted their price objective on Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $118.23.

Brown & Brown Stock Performance

Brown & Brown stock opened at $108.01 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 2.52. Brown & Brown, Inc. has a one year low of $92.29 and a one year high of $125.68. The stock’s 50 day moving average price is $109.61 and its 200 day moving average price is $111.43. The firm has a market capitalization of $30.97 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 2.34 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data 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 17.77% and a net margin of 20.84%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. Brown & Brown’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.56%. Brown & Brown’s dividend payout ratio (DPR) is 16.71%.

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.