Avanza Fonder AB Purchases 7,949 Shares of Brown & Brown, Inc. $BRO

Avanza Fonder AB boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 35.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,139 shares of the financial services provider’s stock after acquiring an additional 7,949 shares during the period. Avanza Fonder AB’s holdings in Brown & Brown were worth $2,402,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC grew its position in shares of Brown & Brown by 7,294.9% during the 4th quarter. SG Americas Securities LLC now owns 221,109 shares of the financial services provider’s stock valued at $17,622,000 after purchasing an additional 218,119 shares in the last quarter. Diversified Trust Co. purchased a new stake in shares of Brown & Brown in the fourth quarter worth $871,000. Fulton Bank N.A. boosted its stake in Brown & Brown by 7.3% during the fourth quarter. Fulton Bank N.A. now owns 2,645 shares of the financial services provider’s stock valued at $211,000 after buying an additional 180 shares during the period. Maridea Wealth Management LLC boosted its stake in Brown & Brown by 87.0% during the fourth quarter. Maridea Wealth Management LLC now owns 23,442 shares of the financial services provider’s stock valued at $1,868,000 after buying an additional 10,905 shares during the period. Finally, American National Bank of Texas grew its position in Brown & Brown by 5.7% during the fourth quarter. American National Bank of Texas now owns 4,911 shares of the financial services provider’s stock worth $391,000 after buying an additional 264 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BRO shares. UBS Group restated a “neutral” rating and issued a $81.00 target price (down from $90.00) on shares of Brown & Brown in a research note on Thursday, January 29th. Royal Bank Of Canada began coverage on Brown & Brown in a report on Tuesday, March 17th. They set a “sector perform” rating and a $76.00 price objective for the company. Truist Financial decreased their price objective on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Argus raised shares of Brown & Brown to a “hold” rating in a research note on Tuesday, January 27th. Finally, BMO Capital Markets dropped their target price 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. Four analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $89.33.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $66.59 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66. Brown & Brown, Inc. has a one year low of $65.68 and a one year high of $125.68. The business’s 50 day simple moving average is $71.72 and its two-hundred day simple moving average is $80.16. The stock has a market capitalization of $22.67 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 earnings per share for the quarter, beating 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 firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The business’s quarterly revenue was up 35.7% compared to the same quarter last year. Analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

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