Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB increased its position in Brown & Brown, Inc. (NYSE:BROFree Report) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,332 shares of the financial services provider’s stock after acquiring an additional 665 shares during the period. Nordea Investment Management AB’s holdings in Brown & Brown were worth $1,370,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Capital Advisors Group LLC. acquired a new stake in shares of Brown & Brown in the 2nd quarter worth approximately $26,000. West Tower Group LLC purchased a new stake in Brown & Brown in the 2nd quarter valued at approximately $27,000. Quilter Plc purchased a new stake in Brown & Brown in the 1st quarter valued at approximately $438,906,000. Clear Street Markets LLC lifted its stake in Brown & Brown by 93.7% in the 1st quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock valued at $26,000 after buying an additional 223 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its stake in Brown & Brown by 150.6% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock valued at $41,000 after buying an additional 354 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group raised Brown & Brown from a “neutral” rating to a “buy” rating and reduced their target price for the company from $84.00 to $83.00 in a research note on Monday, January 8th. UBS Group increased their price target on Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Raymond James increased their target price on Brown & Brown from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Jefferies Financial Group lowered Brown & Brown from a “buy” rating to a “hold” rating and cut their target price for the stock from $85.00 to $78.00 in a research report on Tuesday, January 9th. Finally, StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and an average price target of $84.40.

Read Our Latest Analysis on BRO

Brown & Brown Stock Down 0.1 %

Shares of Brown & Brown stock opened at $85.91 on Tuesday. The business has a 50-day moving average of $81.61 and a 200-day moving average of $75.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $24.55 billion, a PE ratio of 28.08, a P/E/G ratio of 2.87 and a beta of 0.78. Brown & Brown, Inc. has a 1-year low of $55.42 and a 1-year high of $87.00.

Brown & Brown (NYSE:BROGet Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $1.03 billion for the quarter. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. During the same period in the previous year, the business posted $0.50 EPS. As a group, equities analysts forecast that Brown & Brown, Inc. will post 3.29 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Thursday, February 1st. Brown & Brown’s dividend payout ratio (DPR) is presently 16.99%.

Brown & Brown Company Profile

(Free Report)

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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