Bank of Montreal Can Buys 83,045 Shares of Brown & Brown, Inc. $BRO

Bank of Montreal Can boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 16.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 598,646 shares of the financial services provider’s stock after acquiring an additional 83,045 shares during the quarter. Bank of Montreal Can owned 0.18% of Brown & Brown worth $56,147,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BRO. Bank of New York Mellon Corp grew its holdings in shares of Brown & Brown by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 1,420,814 shares of the financial services provider’s stock worth $133,258,000 after purchasing an additional 51,959 shares during the last quarter. Tandem Investment Advisors Inc. lifted its position in Brown & Brown by 69.7% during the 3rd quarter. Tandem Investment Advisors Inc. now owns 1,385,214 shares of the financial services provider’s stock worth $129,919,000 after buying an additional 569,037 shares in the last quarter. Vanguard Group Inc. lifted its position in 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 worth $3,501,264,000 after buying an additional 1,705,570 shares in the last quarter. Invesco Ltd. grew its holdings 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 worth $461,925,000 after acquiring an additional 46,235 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Brown & Brown by 43.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,600 shares of the financial services provider’s stock valued at $4,558,000 after acquiring an additional 14,678 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group reduced their target price on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Truist Financial lowered their price target on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. Keefe, Bruyette & Woods upgraded shares of Brown & Brown from an “underperform” rating to a “market perform” rating and dropped their price objective for the stock from $80.00 to $73.00 in a research report on Thursday, January 29th. Argus raised Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. Finally, Wells Fargo & Company lowered their target price on Brown & Brown from $82.00 to $78.00 and set an “equal weight” rating for the company in a research note on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $90.29.

Brown & Brown Trading Down 1.1%

Shares of NYSE BRO opened at $67.63 on Friday. Brown & Brown, Inc. has a fifty-two week low of $65.68 and a fifty-two week high of $125.68. The firm has a market capitalization of $23.02 billion, a P/E ratio of 21.14, a P/E/G ratio of 1.83 and a beta of 0.79. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66. The company’s 50 day simple moving average is $73.65 and its 200 day simple moving average is $81.97.

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

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were issued a dividend of $0.165 per share. The ex-dividend date was Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. Brown & Brown’s dividend payout ratio (DPR) 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.