Barclays PLC Acquires 882,830 Shares of Brown & Brown, Inc. $BRO

Barclays PLC lifted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 35.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,397,991 shares of the financial services provider’s stock after acquiring an additional 882,830 shares during the quarter. Barclays PLC’s holdings in Brown & Brown were worth $270,820,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Basepoint Wealth LLC bought a new stake in shares of Brown & Brown in the 4th quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new position in shares of Brown & Brown in the second quarter worth $30,000. Board of the Pension Protection Fund purchased a new position in shares of Brown & Brown in the fourth quarter worth $40,000. Maseco LLP purchased a new position in shares of Brown & Brown in the fourth quarter worth $60,000. Finally, eCIO Inc. purchased a new position in shares of Brown & Brown in the fourth quarter worth $67,000. 71.01% of the stock is currently owned by institutional investors.

Insider Transactions at Brown & Brown

In related news, Director H Palmer Proctor, Jr. acquired 2,000 shares of Brown & Brown stock in a transaction on Tuesday, May 5th. The shares were acquired at an average cost of $57.10 per share, with a total value of $114,200.00. Following the transaction, the director owned 47,621 shares in the company, valued at $2,719,159.10. This trade represents a 4.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 13.13% of the company’s stock.

Analysts Set New Price Targets

BRO has been the topic of several analyst reports. Morgan Stanley decreased their target price on shares of Brown & Brown from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. Royal Bank Of Canada decreased their target price on shares of Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Company decreased their target price on shares of Brown & Brown from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Citigroup initiated coverage on shares of Brown & Brown in a research note on Thursday, May 21st. They issued a “market outperform” rating on the stock. Finally, Truist Financial decreased their target price on shares of Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.44.

Brown & Brown Stock Down 0.1%

Shares of Brown & Brown stock opened at $59.96 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $61.11 and its two-hundred day simple moving average is $69.79. The company has a market cap of $20.32 billion, a P/E ratio of 19.28, a PEG ratio of 2.76 and a beta of 0.63. Brown & Brown, Inc. has a 12-month low of $53.81 and a 12-month high of $111.10.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data 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 the consensus estimate of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The company’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 EPS. 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 given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, May 11th. Brown & Brown’s payout ratio is presently 21.22%.

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.