Andra AP fonden Boosts Stock Holdings in Brown & Brown, Inc. $BRO

Andra AP fonden lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 38.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,304 shares of the financial services provider’s stock after acquiring an additional 36,500 shares during the quarter. Andra AP fonden’s holdings in Brown & Brown were worth $12,409,000 at the end of the most recent quarter.

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

Brown & Brown Stock Performance

BRO stock opened at $71.70 on Friday. Brown & Brown, Inc. has a 1-year low of $65.68 and a 1-year 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 business’s 50-day moving average price is $75.34 and its two-hundred day moving average price is $83.52. The firm has a market cap of $24.41 billion, a PE ratio of 22.41, a P/E/G ratio of 2.15 and a beta of 0.79.

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

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s dividend payout ratio (DPR) is 20.63%.

Wall Street Analyst Weigh In

BRO has been the subject of a number of recent analyst reports. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Brown & Brown in a research note on Monday, December 29th. Argus upgraded shares of Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. JPMorgan Chase & Co. began coverage on shares of Brown & Brown in a research report on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price target on the stock. Finally, Truist Financial cut their price objective on Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and an average target price of $90.43.

About Brown & Brown

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.