16,716 Shares in Brown & Brown, Inc. $BRO Acquired by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,716 shares of the financial services provider’s stock, valued at approximately $1,332,000.

A number of other large investors have also recently added to or reduced their stakes in the business. National Pension Service boosted its holdings in Brown & Brown by 43.0% during the fourth quarter. National Pension Service now owns 503,604 shares of the financial services provider’s stock worth $40,137,000 after buying an additional 151,373 shares in the last quarter. Basepoint Wealth LLC bought a new stake in Brown & Brown during the fourth quarter worth approximately $27,000. Foundations Investment Advisors LLC bought a new stake in Brown & Brown during the fourth quarter worth approximately $462,000. Huntington National Bank boosted its holdings in Brown & Brown by 16.7% during the fourth quarter. Huntington National Bank now owns 6,008 shares of the financial services provider’s stock worth $479,000 after buying an additional 858 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Brown & Brown by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 7,952,957 shares of the financial services provider’s stock worth $631,495,000 after buying an additional 118,225 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BRO. Wells Fargo & Company reduced their target price on shares of Brown & Brown from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Truist Financial cut their price target on shares of Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. The Goldman Sachs Group cut their price target on shares of Brown & Brown from $82.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Citizens Jmp began coverage on shares of Brown & Brown in a report on Thursday, May 21st. They set a “market outperform” rating and a $70.00 price target on the stock. Finally, Mizuho cut their price target on shares of Brown & Brown from $85.00 to $84.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Five equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.44.

Brown & Brown Stock Down 0.6%

BRO stock opened at $56.63 on Wednesday. Brown & Brown, Inc. has a 52-week low of $53.81 and a 52-week high of $113.83. The company’s 50 day simple moving average is $62.37 and its 200-day simple moving average is $71.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market capitalization of $19.20 billion, a P/E ratio of 18.21, a P/E/G ratio of 2.62 and a beta of 0.63.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The firm’s revenue was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share. As a group, equities research analysts anticipate that Brown & Brown, Inc. will post 4.51 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, May 11th. Brown & Brown’s dividend payout ratio is currently 21.22%.

Insiders Place Their Bets

In related news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were purchased at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the purchase, the director owned 47,621 shares in the company, valued at $2,719,159.10. This represents a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.13% of the company’s stock.

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.