Aberdeen Group plc Has $13.84 Million Holdings in Brown & Brown, Inc. $BRO

Aberdeen Group plc cut its position in Brown & Brown, Inc. (NYSE:BRO) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,615 shares of the financial services provider’s stock after selling 9,949 shares during the period. Aberdeen Group plc owned 0.05% of Brown & Brown worth $13,837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in Brown & Brown by 3.8% in 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 in the last quarter. Tandem Investment Advisors Inc. boosted its stake in Brown & Brown by 69.7% in the third quarter. Tandem Investment Advisors Inc. now owns 1,385,214 shares of the financial services provider’s stock worth $129,919,000 after purchasing an additional 569,037 shares in the last quarter. Vanguard Group Inc. boosted its stake in Brown & Brown by 4.8% in the third quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider’s stock worth $3,501,264,000 after purchasing an additional 1,705,570 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Brown & Brown by 43.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,600 shares of the financial services provider’s stock worth $4,558,000 after purchasing an additional 14,678 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. lifted its position in shares of Brown & Brown by 2.6% during the third quarter. Schwartz Investment Counsel Inc. now owns 532,400 shares of the financial services provider’s stock worth $49,934,000 after purchasing an additional 13,250 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Morgan Stanley reduced their target price on shares of Brown & Brown from $76.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Monday. Truist Financial cut their price target on Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Brown & Brown in a research note on Monday, December 29th. JPMorgan Chase & Co. initiated coverage on Brown & Brown in a research note on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price target on the stock. Finally, BMO Capital Markets cut their price target on Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research note on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $88.87.

Brown & Brown Stock Down 0.3%

Shares of NYSE BRO opened at $66.33 on Wednesday. The stock has a market cap of $22.58 billion, a P/E ratio of 20.73, a P/E/G ratio of 1.66 and a beta of 0.83. The firm has a 50 day moving average price of $69.00 and a 200 day moving average price of $78.23. 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 $63.29 and a 52-week high of $121.70.

Brown & Brown (NYSE:BRO) last released its quarterly 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. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.65 billion. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.Brown & Brown’s revenue was up 35.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. Analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were given 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 currently 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.