Brown & Brown, Inc. $BRO Stock Holdings Increased by Raiffeisen Bank International AG

Raiffeisen Bank International AG boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 2,296.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,585 shares of the financial services provider’s stock after purchasing an additional 9,185 shares during the period. Raiffeisen Bank International AG’s holdings in Brown & Brown were worth $892,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Brown & Brown by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider’s stock valued at $3,501,264,000 after acquiring an additional 1,705,570 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Brown & Brown by 13.4% in the 3rd quarter. Principal Financial Group Inc. now owns 15,416,190 shares of the financial services provider’s stock worth $1,445,888,000 after acquiring an additional 1,821,229 shares during the last quarter. State Street Corp raised its position in shares of Brown & Brown by 11.3% during the second quarter. State Street Corp now owns 12,460,821 shares of the financial services provider’s stock worth $1,381,531,000 after purchasing an additional 1,262,139 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Brown & Brown by 16.6% during the second quarter. Geode Capital Management LLC now owns 7,369,576 shares of the financial services provider’s stock valued at $813,624,000 after purchasing an additional 1,050,350 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Brown & Brown by 1.1% in the 2nd quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock valued at $461,925,000 after purchasing an additional 46,235 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial cut their price objective on Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. JPMorgan Chase & Co. assumed coverage on shares of Brown & Brown in a research note on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price objective for the company. BMO Capital Markets lowered their price objective on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research report on Thursday, January 29th. Bank of America reduced their target price on Brown & Brown from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $81.00 target price (down previously from $90.00) on shares of Brown & Brown in a research report on Thursday, January 29th. Three investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.36.

Brown & Brown Stock Performance

BRO stock opened at $69.57 on Monday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. Brown & Brown, Inc. has a 12 month low of $65.68 and a 12 month high of $125.68. The firm has a 50 day moving average of $76.41 and a two-hundred day moving average of $84.20. The company has a market capitalization of $23.68 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 2.10 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The business’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s payout ratio is 20.63%.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.