Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in Brown & Brown, Inc. (NYSE:BROFree Report) by 19.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 385,413 shares of the financial services provider’s stock after purchasing an additional 62,020 shares during the quarter. Hsbc Holdings PLC owned about 0.14% of Brown & Brown worth $27,365,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $31,000. Park Place Capital Corp increased its holdings in shares of Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 318 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Brown & Brown by 174.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 348 shares in the last quarter. Mendota Financial Group LLC purchased a new stake in Brown & Brown during the fourth quarter worth approximately $42,000. Finally, Orion Capital Management LLC purchased a new position in Brown & Brown in the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Activity

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the transaction, the chairman now owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 17.02% of the company’s stock.

Brown & Brown Trading Up 1.7 %

Brown & Brown stock opened at $87.75 on Friday. Brown & Brown, Inc. has a 52 week low of $61.71 and a 52 week high of $91.70. The stock has a market cap of $25.03 billion, a PE ratio of 27.00, a P/E/G ratio of 2.27 and a beta of 0.79. The stock has a 50-day moving average price of $85.28 and a 200 day moving average price of $79.91. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BROGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm posted $0.84 EPS. Brown & Brown’s revenue was up 12.7% on a year-over-year basis. Equities research analysts predict that Brown & Brown, Inc. will post 3.61 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Friday, May 3rd. Brown & Brown’s payout ratio is 16.00%.

Analyst Ratings Changes

BRO has been the subject of a number of research analyst reports. Truist Financial upped their target price on Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Raymond James raised their price objective on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Bank of America upgraded shares of Brown & Brown from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $91.00 to $101.00 in a research note on Wednesday, May 22nd. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lifted their target price on Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $88.80.

Read Our Latest Research Report on Brown & Brown

Brown & Brown 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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