Brown & Brown, Inc. $BRO Position Raised by Dundas Partners LLP

Dundas Partners LLP grew its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 25.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 633,541 shares of the financial services provider’s stock after purchasing an additional 130,430 shares during the quarter. Brown & Brown makes up about 4.2% of Dundas Partners LLP’s holdings, making the stock its 8th biggest position. Dundas Partners LLP owned 0.19% of Brown & Brown worth $59,420,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Western Wealth Management LLC raised its stake in Brown & Brown by 6.0% during the 2nd quarter. Western Wealth Management LLC now owns 1,902 shares of the financial services provider’s stock valued at $211,000 after acquiring an additional 108 shares during the last quarter. ICONIQ Capital LLC lifted its holdings in Brown & Brown by 5.4% in the second quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 109 shares during the period. Kingsview Wealth Management LLC lifted its stake in shares of Brown & Brown by 2.2% in the second quarter. Kingsview Wealth Management LLC now owns 5,267 shares of the financial services provider’s stock valued at $584,000 after purchasing an additional 114 shares during the period. Freedom Day Solutions LLC lifted its stake in shares of Brown & Brown by 0.7% in the third quarter. Freedom Day Solutions LLC now owns 18,632 shares of the financial services provider’s stock valued at $1,747,000 after purchasing an additional 129 shares during the period. Finally, Baker Tilly Wealth Management LLC boosted its holdings in Brown & Brown by 4.1% during the third quarter. Baker Tilly Wealth Management LLC now owns 3,330 shares of the financial services provider’s stock worth $312,000 after buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BRO. Wolfe Research started coverage on shares of Brown & Brown in a report on Thursday, November 20th. They issued a “peer perform” rating on the stock. Truist Financial lowered their price objective on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. UBS Group reissued a “neutral” rating and set a $81.00 target price (down from $90.00) on shares of Brown & Brown in a research report on Thursday, January 29th. BMO Capital Markets lowered their price target on Brown & Brown from $88.00 to $81.00 and set a “market perform” rating for the company in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. began coverage on shares of Brown & Brown in a research note on Thursday, December 18th. They set a “neutral” rating and a $91.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average target price of $90.43.

Brown & Brown Price Performance

NYSE BRO opened at $73.48 on Monday. Brown & Brown, Inc. has a 52 week low of $65.68 and a 52 week high of $125.68. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.55. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The company has a 50-day moving average price of $74.54 and a two-hundred day moving average price of $82.54.

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

Brown & Brown Announces Dividend

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

Brown & Brown Company 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.