Teachers Retirement System of The State of Kentucky Has $1.71 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Teachers Retirement System of The State of Kentucky decreased its position in Brown & Brown, Inc. (NYSE:BRO) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,894 shares of the financial services provider’s stock after selling 3,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Brown & Brown were worth $1,713,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BRO. CIBC Private Wealth Group LLC grew its holdings in Brown & Brown by 150.2% during the second quarter. CIBC Private Wealth Group LLC now owns 1,561,150 shares of the financial services provider’s stock worth $82,960,000 after purchasing an additional 937,118 shares during the period. Balyasny Asset Management LLC raised its position in Brown & Brown by 230.0% during the second quarter. Balyasny Asset Management LLC now owns 1,210,103 shares of the financial services provider’s stock valued at $64,305,000 after purchasing an additional 843,401 shares in the last quarter. State Street Corp raised its position in Brown & Brown by 6.9% during the second quarter. State Street Corp now owns 9,850,805 shares of the financial services provider’s stock valued at $523,472,000 after purchasing an additional 637,198 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of Brown & Brown during the second quarter worth $31,787,000. Finally, Natixis grew its stake in shares of Brown & Brown by 1,452.7% during the second quarter. Natixis now owns 474,969 shares of the financial services provider’s stock worth $25,240,000 after buying an additional 444,380 shares during the last quarter. 71.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BRO opened at $67.05 on Friday. The firm’s 50-day moving average price is $66.63 and its 200-day moving average price is $60.64. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 32.71 and a beta of 0.73. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Brown & Brown, Inc. has a 1-year low of $42.72 and a 1-year high of $70.75.

Brown & Brown (NYSE:BRO) last issued its earnings results on Sunday, October 24th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $770.30 million during the quarter, compared to analysts’ expectations of $760.36 million. Brown & Brown had a net margin of 19.72% and a return on equity of 15.19%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. On average, research analysts forecast that Brown & Brown, Inc. will post 2.16 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 17th. Investors of record on Wednesday, November 3rd were given a dividend of $0.1025 per share. This represents a $0.41 annualized dividend and a yield of 0.61%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, November 2nd. Brown & Brown’s payout ratio is 20.00%.

A number of analysts have weighed in on the stock. Truist Securities boosted their target price on shares of Brown & Brown from $72.00 to $77.00 in a research note on Friday. Raymond James upped their price target on shares of Brown & Brown from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, December 21st. Royal Bank of Canada upped their price target on shares of Brown & Brown from $57.00 to $64.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 27th. Morgan Stanley upped their price target on shares of Brown & Brown from $56.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, October 15th. Finally, Truist Financial upped their target price on shares of Brown & Brown from $72.00 to $77.00 in a report on Friday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $67.25.

Brown & Brown Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance programs 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.

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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