Metis Global Partners LLC Grows Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Metis Global Partners LLC increased its stake in Brown & Brown, Inc. (NYSE:BRO) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,064 shares of the financial services provider’s stock after buying an additional 974 shares during the period. Metis Global Partners LLC’s holdings in Brown & Brown were worth $1,561,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. grew its stake in shares of Brown & Brown by 105.1% in the second quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock worth $184,930,000 after acquiring an additional 1,059,711 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Brown & Brown by 24.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after purchasing an additional 687,783 shares in the last quarter. Capital World Investors boosted its stake in Brown & Brown by 50.5% in the 1st quarter. Capital World Investors now owns 1,413,224 shares of the financial services provider’s stock worth $123,714,000 after purchasing an additional 473,982 shares in the last quarter. Natixis Advisors LLC grew its position in Brown & Brown by 123.9% during the 2nd quarter. Natixis Advisors LLC now owns 733,668 shares of the financial services provider’s stock valued at $65,597,000 after purchasing an additional 406,064 shares during the last quarter. Finally, Truist Financial Corp increased its stake in Brown & Brown by 392.3% during the 2nd quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock valued at $42,287,000 after purchasing an additional 376,892 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.02% of the stock is currently owned by insiders.

Brown & Brown Stock Up 0.5 %

Shares of BRO stock opened at $110.05 on Friday. 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, Inc. has a 12 month low of $69.13 and a 12 month high of $114.08. The stock has a market cap of $31.47 billion, a P/E ratio of 29.99, a P/E/G ratio of 2.58 and a beta of 0.82. The company has a 50 day simple moving average of $105.38 and a two-hundred day simple moving average of $97.98.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $0.71 EPS. Brown & Brown’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, research analysts expect that Brown & Brown, Inc. will post 3.73 earnings per share for the current year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, November 6th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. Brown & Brown’s payout ratio is 16.35%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BRO shares. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Barclays assumed coverage on Brown & Brown in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 target price on the stock. Jefferies Financial Group boosted their price target on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Truist Financial increased their price objective on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America boosted their target price on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $106.50.

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.