Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 31.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,778 shares of the financial services provider’s stock after selling 17,140 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Brown & Brown were worth $2,615,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Park Place Capital Corp increased its stake in shares of Brown & Brown by 166.5% during the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after buying an additional 318 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Brown & Brown during the fourth quarter worth approximately $26,900,000. Boston Trust Walden Corp increased its stake in shares of Brown & Brown by 1.0% during the fourth quarter. Boston Trust Walden Corp now owns 132,077 shares of the financial services provider’s stock worth $9,392,000 after buying an additional 1,284 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Brown & Brown by 0.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 98,531 shares of the financial services provider’s stock worth $6,988,000 after buying an additional 613 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Brown & Brown by 0.7% during the fourth quarter. Arizona State Retirement System now owns 66,256 shares of the financial services provider’s stock worth $4,711,000 after buying an additional 479 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Stock Performance

Shares of BRO opened at $81.12 on Friday. 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 cap of $23.15 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The company’s 50 day simple moving average is $84.21 and its 200-day simple moving average is $76.63. Brown & Brown, Inc. has a 12-month low of $59.91 and a 12-month high of $87.99.

Brown & Brown (NYSE:BRO) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business posted $0.50 earnings per share. As a group, equities analysts predict that Brown & Brown, Inc. will post 3.44 EPS for the current year.

Insider Transactions at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the sale, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 17.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on BRO. Jefferies Financial Group lowered shares of 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 note on Tuesday, January 9th. Raymond James increased their price target on shares of Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Truist Financial increased their price target on shares of Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. The Goldman Sachs Group upgraded shares of Brown & Brown from a “neutral” rating to a “buy” rating and dropped their price target for the company from $84.00 to $83.00 in a research note on Monday, January 8th. Finally, Citigroup increased their price target on shares of Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average target price of $86.80.

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.