Fjarde AP Fonden Fourth Swedish National Pension Fund Has $12.98 Million Stock Holdings in Brown & Brown, Inc. $BRO

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 51.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 199,093 shares of the financial services provider’s stock after buying an additional 67,350 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned about 0.06% of Brown & Brown worth $12,983,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Brown & Brown by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 37,634,847 shares of the financial services provider’s stock worth $2,999,497,000 after acquiring an additional 303,955 shares during the last quarter. Capital World Investors boosted its position in Brown & Brown by 2.3% during the fourth quarter. Capital World Investors now owns 17,886,395 shares of the financial services provider’s stock valued at $1,425,546,000 after purchasing an additional 407,006 shares during the last quarter. State Street Corp grew its stake in Brown & Brown by 2.2% in the fourth quarter. State Street Corp now owns 13,403,814 shares of the financial services provider’s stock valued at $1,068,284,000 after purchasing an additional 282,988 shares in the last quarter. Geode Capital Management LLC grew its stake in Brown & Brown by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 7,952,957 shares of the financial services provider’s stock valued at $631,495,000 after purchasing an additional 118,225 shares in the last quarter. Finally, Norges Bank acquired a new position in Brown & Brown in the 4th quarter worth about $516,837,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Brown & Brown

In related news, Director H Palmer Proctor, Jr. bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average cost of $57.10 per share, for a total transaction of $114,200.00. Following the purchase, the director directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BRO. Citigroup began coverage on Brown & Brown in a research note on Thursday, May 21st. They issued a “market outperform” rating for the company. JPMorgan Chase & Co. reduced their target price on shares of Brown & Brown from $91.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Morgan Stanley decreased their target price on shares of Brown & Brown from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. Barclays dropped their price target on shares of Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. 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 analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average target price of $78.25.

Brown & Brown Trading Down 0.2%

Brown & Brown stock opened at $69.87 on Friday. Brown & Brown, Inc. has a 52 week low of $53.81 and a 52 week high of $108.75. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a market capitalization of $23.68 billion, a PE ratio of 22.47, a PEG ratio of 3.22 and a beta of 0.60. The business’s 50-day simple moving average is $59.70 and its 200-day simple moving average is $68.05.

Brown & Brown (NYSE:BRO) last released its 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 firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The company’s revenue was up 35.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 EPS. Equities research analysts forecast that Brown & Brown, Inc. will post 4.52 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were paid a $0.165 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. Brown & Brown’s dividend payout ratio (DPR) is presently 21.22%.

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.