CX Institutional Grows Holdings in Brown & Brown, Inc. (NYSE:BRO)

CX Institutional boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.9% during the 4th quarter, HoldingsChannel reports. The firm owned 19,652 shares of the financial services provider’s stock after purchasing an additional 167 shares during the period. CX Institutional’s holdings in Brown & Brown were worth $2,005,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in shares of Brown & Brown by 14.8% in the 2nd quarter. American Century Companies Inc. now owns 16,508 shares of the financial services provider’s stock valued at $1,476,000 after purchasing an additional 2,123 shares during the last quarter. Public Sector Pension Investment Board grew its position in Brown & Brown by 8.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 40,185 shares of the financial services provider’s stock valued at $3,593,000 after buying an additional 2,990 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Brown & Brown in the 2nd quarter valued at $117,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Brown & Brown by 61.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 46,524 shares of the financial services provider’s stock worth $4,160,000 after buying an additional 17,642 shares during the last quarter. Finally, MBB Public Markets I LLC acquired a new stake in shares of Brown & Brown in the 2nd quarter worth $1,329,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BRO. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Jefferies Financial Group boosted their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Morgan Stanley initiated coverage on Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target for the company. Barclays upped their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Finally, Truist Financial raised their target price on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $112.08.

Brown & Brown Trading Up 0.7 %

Brown & Brown stock opened at $106.01 on Friday. The stock has a 50-day moving average price of $105.75 and a 200 day moving average price of $103.70. Brown & Brown, Inc. has a 52 week low of $75.79 and a 52 week high of $114.15. The stock has a market cap of $30.31 billion, a PE ratio of 28.88, a P/E/G ratio of 2.12 and a beta of 0.85. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share 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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business posted $0.71 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. Equities research analysts predict that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s dividend payout ratio is presently 16.35%.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.