Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,256 shares of the financial services provider’s stock after buying an additional 479 shares during the quarter. Arizona State Retirement System’s holdings in Brown & Brown were worth $4,711,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. First Capital Advisors Group LLC. acquired a new stake in Brown & Brown during the 2nd quarter valued at $26,000. Fortitude Family Office LLC acquired a new stake in Brown & Brown during the 4th quarter valued at $31,000. Quilter Plc acquired a new stake in Brown & Brown during the 1st quarter valued at $438,906,000. Clear Street Markets LLC grew its holdings in Brown & Brown by 93.7% during 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 during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its stake in shares of Brown & Brown by 150.6% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 354 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.4 %

Shares of BRO opened at $85.48 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $24.39 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 2.84 and a beta of 0.78. The stock’s fifty day simple moving average is $83.61 and its 200 day simple moving average is $76.10. Brown & Brown, Inc. has a twelve month low of $58.02 and a twelve month high of $87.99.

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

Brown & Brown Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BRO. Truist Financial increased their price target on Brown & Brown from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Wells Fargo & Company increased their price target on Brown & Brown from $72.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Raymond James increased their price target on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. The Goldman Sachs Group raised Brown & Brown from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $84.00 to $83.00 in a research note on Monday, January 8th. Finally, 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and a consensus target price of $84.90.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 16.43% of the stock is currently owned by corporate insiders.

Brown & Brown Profile

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.