Sumitomo Mitsui Trust Holdings Inc. Has $46.74 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Sumitomo Mitsui Trust Holdings Inc. grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 657,284 shares of the financial services provider’s stock after buying an additional 18,557 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Brown & Brown were worth $46,739,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Louisiana State Employees Retirement System bought a new position in shares of Brown & Brown in the fourth quarter worth about $1,017,000. WCM Investment Management LLC increased its stake in shares of Brown & Brown by 13.4% in the fourth quarter. WCM Investment Management LLC now owns 107,979 shares of the financial services provider’s stock worth $7,658,000 after purchasing an additional 12,748 shares during the period. Xcel Wealth Management LLC increased its stake in shares of Brown & Brown by 3.2% in the fourth quarter. Xcel Wealth Management LLC now owns 6,389 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 200 shares during the period. Cerity Partners LLC increased its stake in shares of Brown & Brown by 155.8% in the fourth quarter. Cerity Partners LLC now owns 23,328 shares of the financial services provider’s stock worth $1,659,000 after purchasing an additional 14,210 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Brown & Brown by 0.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,236,392 shares of the financial services provider’s stock worth $372,360,000 after purchasing an additional 29,514 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. UBS Group lifted their price objective on Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods boosted their price target on Brown & Brown from $75.00 to $80.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Citigroup boosted their price target on Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America lowered Brown & Brown from a “neutral” rating to an “underperform” rating and boosted their price target for the company from $80.00 to $86.00 in a research note on Wednesday, March 13th. Finally, Jefferies Financial Group lowered Brown & Brown from a “buy” rating to a “hold” rating and lowered their price target for the company from $85.00 to $78.00 in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $86.80.

Brown & Brown Trading Up 1.3 %

BRO stock opened at $82.17 on Friday. Brown & Brown, Inc. has a 1-year low of $59.91 and a 1-year high of $87.99. The firm has a market cap of $23.45 billion, a P/E ratio of 26.85, a P/E/G ratio of 2.52 and a beta of 0.78. The business’s 50 day moving average is $84.23 and its 200-day moving average is $76.72. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.58.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The company had revenue of $1.03 billion for the quarter. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. During the same quarter in the prior year, the company posted $0.50 earnings per share. Equities analysts anticipate that Brown & Brown, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.02% of the stock is owned by company insiders.

About Brown & Brown

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.