Andra AP fonden Buys 36,500 Shares of Brown & Brown, Inc. $BRO

Andra AP fonden increased its stake in Brown & Brown, Inc. (NYSE:BRO) by 38.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 132,304 shares of the financial services provider’s stock after acquiring an additional 36,500 shares during the quarter. Andra AP fonden’s holdings in Brown & Brown were worth $12,409,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of Brown & Brown by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 1,420,814 shares of the financial services provider’s stock worth $133,258,000 after purchasing an additional 51,959 shares during the period. Tandem Investment Advisors Inc. lifted its position in shares of Brown & Brown by 69.7% during the 3rd quarter. Tandem Investment Advisors Inc. now owns 1,385,214 shares of the financial services provider’s stock worth $129,919,000 after buying an additional 569,037 shares in the last quarter. Access Investment Management LLC purchased a new position in Brown & Brown in the second quarter worth $1,109,000. Invesco Ltd. boosted its holdings in shares of Brown & Brown by 1.1% in the 2nd quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock worth $461,925,000 after buying an additional 46,235 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Brown & Brown by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider’s stock valued at $3,501,264,000 after acquiring an additional 1,705,570 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Price Performance

NYSE:BRO opened at $71.70 on Friday. Brown & Brown, Inc. has a 1 year low of $65.68 and a 1 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 business has a 50 day simple moving average of $75.34 and a 200-day simple moving average of $83.52. The firm has a market capitalization of $24.41 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 2.15 and a beta of 0.79.

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

Brown & Brown Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BRO. Citigroup cut shares of Brown & Brown from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. Argus upgraded Brown & Brown to a “hold” rating in a research report on Tuesday, January 27th. Truist Financial dropped their price target on Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. BMO Capital Markets reduced their target price on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research report on Thursday, January 29th. Finally, Barclays decreased their target price on shares of Brown & Brown from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $90.43.

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.