Achmea Investment Management B.V. Acquires 2,110 Shares of Brown & Brown, Inc. $BRO

Achmea Investment Management B.V. grew its holdings in Brown & Brown, Inc. (NYSE:BRO) by 9.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 23,410 shares of the financial services provider’s stock after acquiring an additional 2,110 shares during the period. Achmea Investment Management B.V.’s holdings in Brown & Brown were worth $2,595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bares Capital Management Inc. bought a new stake in Brown & Brown in the first quarter valued at about $26,000. SouthState Corp grew its stake in shares of Brown & Brown by 188.6% in the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 166 shares during the period. ST Germain D J Co. Inc. raised its holdings in shares of Brown & Brown by 298.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Motco acquired a new position in shares of Brown & Brown in the 2nd quarter worth approximately $32,000. Finally, Bruce G. Allen Investments LLC lifted its position in shares of Brown & Brown by 1,129.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock worth $37,000 after buying an additional 305 shares during the period. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Performance

Brown & Brown stock opened at $78.51 on Friday. The company has a market cap of $26.81 billion, a PE ratio of 23.51, a PEG ratio of 1.70 and a beta of 0.77. The company has a current ratio of 2.10, a quick ratio of 6.72 and a debt-to-equity ratio of 0.62. Brown & Brown, Inc. has a 1 year low of $76.17 and a 1 year high of $125.68. The company’s 50-day moving average is $90.31 and its two-hundred day moving average is $100.23.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate 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 $1.61 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the company earned $0.91 EPS. Brown & Brown’s revenue was up 35.4% on a year-over-year basis. Equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 5th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s dividend payout ratio is presently 19.76%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays lowered their price target on Brown & Brown from $108.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. UBS Group dropped their target price on shares of Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Truist Financial decreased 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. Wall Street Zen raised shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Finally, Keefe, Bruyette & Woods reduced their target price on Brown & Brown from $92.00 to $79.00 and set an “underperform” rating on the stock in a report on Tuesday. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $105.23.

About Brown & Brown

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.