Brown & Brown, Inc. $BRO Shares Bought by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lifted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 389.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,926 shares of the financial services provider’s stock after acquiring an additional 7,900 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Brown & Brown were worth $931,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BRO. WINTON GROUP Ltd lifted its holdings in shares of Brown & Brown by 2,469.1% during the third quarter. WINTON GROUP Ltd now owns 112,808 shares of the financial services provider’s stock valued at $10,580,000 after purchasing an additional 108,417 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Brown & Brown by 81.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 280,955 shares of the financial services provider’s stock worth $26,344,000 after purchasing an additional 126,113 shares in the last quarter. Schroder Investment Management Group raised its holdings in Brown & Brown by 31.6% during the 3rd quarter. Schroder Investment Management Group now owns 22,962 shares of the financial services provider’s stock worth $2,136,000 after buying an additional 5,508 shares during the period. Dundas Partners LLP raised its holdings in Brown & Brown by 25.9% during the 3rd quarter. Dundas Partners LLP now owns 633,541 shares of the financial services provider’s stock worth $59,420,000 after buying an additional 130,430 shares during the period. Finally, Private Advisor Group LLC lifted its stake in Brown & Brown by 8.9% during the third quarter. Private Advisor Group LLC now owns 4,590 shares of the financial services provider’s stock valued at $430,000 after buying an additional 374 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Price Performance

Shares of BRO opened at $67.63 on Friday. The business’s 50-day moving average is $73.65 and its 200-day moving average is $81.97. 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 has a market capitalization of $23.02 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 1.83 and a beta of 0.79. Brown & Brown, Inc. has a fifty-two week low of $65.68 and a fifty-two week high of $125.68.

Brown & Brown (NYSE:BRO) last posted its quarterly 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. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. Equities research analysts expect 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. Shareholders of record on Wednesday, February 4th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio (DPR) is 20.63%.

Analyst Ratings Changes

Several brokerages have commented on BRO. Keefe, Bruyette & Woods upgraded shares of Brown & Brown from an “underperform” rating to a “market perform” rating and decreased their target price for the stock from $80.00 to $73.00 in a report on Thursday, January 29th. BMO Capital Markets reduced their price target on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating for the company in a research report on Thursday, January 29th. Truist Financial decreased 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. Barclays lowered their price objective on shares of Brown & Brown from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group cut 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 note on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, Brown & Brown has an average rating of “Hold” and a consensus price target of $90.29.

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.