Point72 Asia Singapore Pte. Ltd. Raises Stake in Brown & Brown, Inc. (NYSE:BRO)

Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 5,665.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 11,820 shares of the financial services provider’s stock after acquiring an additional 11,615 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Brown & Brown were worth $1,225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BRO. Atria Investments Inc raised its stake in shares of Brown & Brown by 19.0% during the 1st quarter. Atria Investments Inc now owns 23,701 shares of the financial services provider’s stock worth $2,075,000 after buying an additional 3,780 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Brown & Brown by 43.0% during the 2nd quarter. GAMMA Investing LLC now owns 5,776 shares of the financial services provider’s stock worth $516,000 after buying an additional 1,738 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Brown & Brown by 28.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 916 shares of the financial services provider’s stock worth $82,000 after buying an additional 201 shares during the last quarter. DNB Asset Management AS raised its stake in shares of Brown & Brown by 7.6% during the 2nd quarter. DNB Asset Management AS now owns 41,976 shares of the financial services provider’s stock worth $3,753,000 after buying an additional 2,965 shares during the last quarter. Finally, Mather Group LLC. raised its stake in shares of Brown & Brown by 15.8% during the 2nd quarter. Mather Group LLC. now owns 2,461 shares of the financial services provider’s stock worth $215,000 after buying an additional 335 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Trading Down 0.1 %

NYSE BRO opened at $113.10 on Monday. Brown & Brown, Inc. has a 12 month low of $69.13 and a 12 month high of $114.15. The company has a 50-day moving average of $107.21 and a 200-day moving average of $99.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $32.34 billion, a P/E ratio of 30.82, a P/E/G ratio of 2.60 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts predict that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.53%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is presently 16.35%.

Analysts Set New Price Targets

Several research firms have recently issued reports on BRO. Barclays lifted their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Truist Financial boosted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada boosted their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.42.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.