Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stake in Brown & Brown, Inc. $BRO

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Brown & Brown, Inc. (NYSE:BRO) by 14.5% during the third quarter, Holdings Channel.com reports. The firm owned 149,543 shares of the financial services provider’s stock after purchasing an additional 18,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Brown & Brown were worth $14,026,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. ST Germain D J Co. Inc. increased its position in Brown & Brown by 298.5% in the second 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. Darwin Wealth Management LLC bought a new position in shares of Brown & Brown during the 2nd quarter valued at approximately $30,000. Motco purchased a new stake in Brown & Brown in the 2nd quarter worth approximately $32,000. TD Private Client Wealth LLC increased its holdings in Brown & Brown by 39.3% in the 2nd quarter. TD Private Client Wealth LLC now owns 436 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 123 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Brown & Brown during the 2nd quarter worth approximately $49,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BRO has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of Brown & Brown from $114.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods increased their price target on Brown & Brown from $79.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, January 6th. Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brown & Brown in a research note on Monday, December 29th. Finally, Wells Fargo & Company decreased their target price on Brown & Brown from $92.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and a consensus price target of $98.67.

Brown & Brown Price Performance

NYSE:BRO opened at $80.12 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $27.35 billion, a P/E ratio of 23.99, a P/E/G ratio of 1.77 and a beta of 0.81. Brown & Brown, Inc. has a 12 month low of $76.17 and a 12 month high of $125.68. The business’s 50-day moving average is $79.97 and its 200 day moving average is $89.58.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.15. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the business posted $0.91 EPS. The firm’s revenue for the quarter was up 35.4% compared to the same quarter last year. On average, equities research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th were given a $0.165 dividend. This is a boost from Brown & Brown’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, November 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 19.76%.

Brown & Brown Company 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.