Raiffeisen Bank International AG Purchases 9,185 Shares of Brown & Brown, Inc. $BRO

Raiffeisen Bank International AG boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 2,296.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,585 shares of the financial services provider’s stock after acquiring an additional 9,185 shares during the quarter. Raiffeisen Bank International AG’s holdings in Brown & Brown were worth $892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of BRO. Vanguard Group Inc. lifted its position in Brown & Brown by 16.8% during the 2nd quarter. Vanguard Group Inc. now owns 35,625,322 shares of the financial services provider’s stock worth $3,949,779,000 after acquiring an additional 5,124,203 shares during the last quarter. Norges Bank bought a new position in shares of Brown & Brown in the second quarter worth about $433,740,000. Principal Financial Group Inc. lifted its position in shares of Brown & Brown by 13.4% during the 3rd quarter. Principal Financial Group Inc. now owns 15,416,190 shares of the financial services provider’s stock worth $1,445,888,000 after purchasing an additional 1,821,229 shares during the last quarter. Boston Partners bought a new stake in Brown & Brown during the 2nd quarter valued at approximately $171,163,000. Finally, State Street Corp grew its holdings in Brown & Brown by 11.3% in the 2nd quarter. State Street Corp now owns 12,460,821 shares of the financial services provider’s stock valued at $1,381,531,000 after buying an additional 1,262,139 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

BRO has been the topic of several recent analyst reports. Mizuho dropped their price target on Brown & Brown from $90.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 28th. Truist Financial dropped 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 report on Wednesday, January 28th. JPMorgan Chase & Co. began coverage on shares of Brown & Brown in a research note on Thursday, December 18th. They set a “neutral” rating and a $91.00 target price for the company. UBS Group restated a “neutral” rating and issued a $81.00 price target (down from $90.00) on shares of Brown & Brown in a research report on Thursday, January 29th. Finally, Jefferies Financial Group dropped their price objective on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $90.36.

Brown & Brown Stock Up 0.2%

Shares of BRO stock opened at $69.57 on Monday. Brown & Brown, Inc. has a one year low of $65.68 and a one year high of $125.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a fifty day moving average price of $76.41 and a 200 day moving average price of $84.20. The stock has a market cap of $23.68 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 2.10 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was up 35.7% on a year-over-year basis. Analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, February 4th. Brown & Brown’s dividend payout ratio is 20.63%.

Brown & Brown 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.