Brown & Brown, Inc. $BRO Stock Position Boosted by Deutsche Bank AG

Deutsche Bank AG boosted its stake in Brown & Brown, Inc. (NYSE:BRO) by 53.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,929,461 shares of the financial services provider’s stock after buying an additional 1,361,934 shares during the period. Deutsche Bank AG owned 1.15% of Brown & Brown worth $313,178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BRO. Capital World Investors grew its position in Brown & Brown by 81.1% in the 3rd quarter. Capital World Investors now owns 17,479,389 shares of the financial services provider’s stock valued at $1,639,392,000 after buying an additional 7,827,992 shares in the last quarter. Norges Bank bought a new position in Brown & Brown in the 4th quarter valued at about $516,837,000. Capital International Investors bought a new position in Brown & Brown in the 4th quarter valued at about $371,654,000. Vanguard Group Inc. grew its position in Brown & Brown by 4.8% in 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 buying an additional 1,705,570 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Brown & Brown by 170.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,931,839 shares of the financial services provider’s stock valued at $181,187,000 after buying an additional 1,217,071 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $60.13 on Thursday. Brown & Brown, Inc. has a twelve month low of $53.81 and a twelve month high of $111.10. 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 has a market capitalization of $20.38 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.72 and a beta of 0.63. The firm has a 50-day moving average of $61.30 and a two-hundred day moving average of $70.07.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the company earned $1.29 EPS. Brown & Brown’s revenue was up 35.4% on a year-over-year basis. As a group, analysts expect that Brown & Brown, Inc. will post 4.51 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were issued a $0.165 dividend. 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 dividend payout ratio is presently 21.22%.

Insiders Place Their Bets

In other Brown & Brown news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was bought at an average cost of $57.10 per share, with a total value of $114,200.00. Following the acquisition, the director owned 47,621 shares of the company’s stock, valued at $2,719,159.10. The trade was a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 13.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BRO shares. Truist Financial decreased their target price on shares of Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. The Goldman Sachs Group decreased their target price on shares of Brown & Brown from $82.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. UBS Group decreased their target price on shares of Brown & Brown from $81.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday. Bank of America decreased their target price on shares of Brown & Brown from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Finally, Wells Fargo & Company decreased 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 research report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus price target of $78.44.

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.