70,685 Shares in Brown & Brown, Inc. $BRO Bought by 2Xideas AG

2Xideas AG bought a new stake in Brown & Brown, Inc. (NYSE:BRO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 70,685 shares of the financial services provider’s stock, valued at approximately $6,630,000. Brown & Brown accounts for about 1.4% of 2Xideas AG’s holdings, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BRO. Cornerstone Planning Group LLC raised its position in shares of Brown & Brown by 423.1% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 220 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Brown & Brown during the second quarter worth $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Brown & Brown in the 2nd quarter valued at $49,000. Evelyn Partners Investment Management LLP bought a new position in Brown & Brown during the second quarter worth about $52,000. Finally, True Wealth Design LLC grew its stake in Brown & Brown by 4,369.2% in the third quarter. True Wealth Design LLC now owns 581 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 568 shares during the period. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods raised Brown & Brown from an “underperform” rating to a “market perform” rating and dropped their price target for the stock from $80.00 to $73.00 in a research report on Thursday, January 29th. Jefferies Financial Group lowered their target price on Brown & Brown from $89.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Morgan Stanley cut their price target on shares of Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 29th. JPMorgan Chase & Co. began coverage on shares of Brown & Brown in a report on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price target for the company. Finally, Truist Financial dropped their price objective on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and an average price target of $90.29.

Brown & Brown Trading Up 0.9%

Brown & Brown stock opened at $68.29 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.66 and a current ratio of 1.66. Brown & Brown, Inc. has a 52 week low of $65.68 and a 52 week high of $125.68. The stock has a 50-day simple moving average of $73.46 and a 200 day simple moving average of $81.77. The stock has a market capitalization of $23.25 billion, a P/E ratio of 21.34, a PEG ratio of 1.81 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the firm earned $0.86 EPS. The firm’s revenue was up 35.7% compared to the same quarter last year. Analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders 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 dividend yield of 1.0%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s dividend payout ratio (DPR) is currently 20.63%.

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.