Allianz Asset Management GmbH Has $43.16 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Allianz Asset Management GmbH increased its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 36.0% during the 4th quarter, HoldingsChannel reports. The fund owned 423,017 shares of the financial services provider’s stock after purchasing an additional 111,883 shares during the quarter. Allianz Asset Management GmbH’s holdings in Brown & Brown were worth $43,156,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BRO. Mogy Joel R Investment Counsel Inc. lifted its stake in Brown & Brown by 324.3% in the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock valued at $1,967,000 after buying an additional 14,740 shares during the period. Sanctuary Advisors LLC lifted its stake in Brown & Brown by 4.4% in the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock valued at $18,104,000 after buying an additional 6,805 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Brown & Brown by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after buying an additional 17,934 shares during the period. Quantbot Technologies LP acquired a new position in Brown & Brown in the third quarter valued at about $9,832,000. Finally, EULAV Asset Management lifted its stake in Brown & Brown by 144.8% in the fourth quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock valued at $43,960,000 after buying an additional 254,900 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.0 %

NYSE:BRO opened at $111.65 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $31.92 billion, a PE ratio of 32.27, a PEG ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $114.15. The stock has a 50-day simple moving average of $105.28 and a 200 day simple moving average of $105.49.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, sell-side analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BRO shares. Wells Fargo & Company increased their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Bank of America increased their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Truist Financial increased their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Barclays increased their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and a consensus target price of $113.17.

About Brown & Brown

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.