ProShare Advisors LLC Has $159.41 Million Stock Position in Brown & Brown, Inc. $BRO

ProShare Advisors LLC increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 20.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,699,669 shares of the financial services provider’s stock after acquiring an additional 293,692 shares during the quarter. ProShare Advisors LLC’s holdings in Brown & Brown were worth $159,412,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BRO. Legacy Financial Strategies LLC grew its position in Brown & Brown by 6.4% in the 3rd quarter. Legacy Financial Strategies LLC now owns 35,984 shares of the financial services provider’s stock worth $3,375,000 after purchasing an additional 2,174 shares during the last quarter. New York Life Investment Management LLC lifted its stake in shares of Brown & Brown by 22.6% in the third quarter. New York Life Investment Management LLC now owns 39,728 shares of the financial services provider’s stock valued at $3,726,000 after buying an additional 7,328 shares during the period. Fullcircle Wealth LLC lifted its stake in shares of Brown & Brown by 25.3% in the third quarter. Fullcircle Wealth LLC now owns 2,875 shares of the financial services provider’s stock valued at $270,000 after buying an additional 581 shares during the period. Palacios Wealth Management LLC acquired a new stake in Brown & Brown during the third quarter worth about $291,000. Finally, Smartleaf Asset Management LLC increased its stake in Brown & Brown by 36.9% during the third quarter. Smartleaf Asset Management LLC now owns 735 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 198 shares during the period. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Up 1.6%

BRO opened at $73.87 on Monday. The firm has a market cap of $25.22 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 2.23 and a beta of 0.79. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.10 and a current ratio of 1.67. The firm’s 50-day simple moving average is $78.53 and its 200-day simple moving average is $86.07. Brown & Brown, Inc. has a twelve month low of $70.45 and a twelve month high of $125.68.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.65 billion. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.Brown & Brown’s revenue was up 35.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. Equities research analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, February 4th. Brown & Brown’s dividend payout ratio (DPR) is currently 20.63%.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of research reports. Bank of America reduced their price objective on Brown & Brown from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, January 27th. Barclays decreased their price target on shares of Brown & Brown from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 27th. JPMorgan Chase & Co. began coverage on shares of Brown & Brown in a research note on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brown & Brown in a report on Monday, December 29th. Finally, Truist Financial lowered their target price on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $90.64.

About Brown & Brown

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.