Universal Beteiligungs und Servicegesellschaft mbH Grows Stock Holdings in Brown & Brown, Inc. $BRO

Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Brown & Brown, Inc. (NYSE:BRO) by 10.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 152,138 shares of the financial services provider’s stock after buying an additional 14,868 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Brown & Brown were worth $14,269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Brown & Brown by 16.8% in the second quarter. Vanguard Group Inc. now owns 35,625,322 shares of the financial services provider’s stock worth $3,949,779,000 after purchasing an additional 5,124,203 shares during the last quarter. Norges Bank purchased a new position in Brown & Brown during the 2nd quarter worth $433,740,000. Boston Partners acquired a new position in Brown & Brown during the 2nd quarter valued at about $171,163,000. State Street Corp increased its position in Brown & Brown by 11.3% during the 2nd quarter. State Street Corp now owns 12,460,821 shares of the financial services provider’s stock valued at $1,381,531,000 after buying an additional 1,262,139 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Brown & Brown by 16.6% in the second quarter. Geode Capital Management LLC now owns 7,369,576 shares of the financial services provider’s stock worth $813,624,000 after acquiring an additional 1,050,350 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.7%

NYSE BRO opened at $79.19 on Friday. Brown & Brown, Inc. has a 1 year low of $76.17 and a 1 year high of $125.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market capitalization of $27.04 billion, a PE ratio of 23.71, a P/E/G ratio of 1.83 and a beta of 0.81. The company has a fifty day moving average of $79.88 and a 200 day moving average of $88.57.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The company’s revenue was up 35.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. Research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. Brown & Brown’s payout ratio is presently 19.76%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BRO shares. Truist Financial cut their price objective on shares of Brown & Brown from $114.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, January 15th. Mizuho set a $89.00 price target on shares of Brown & Brown and gave the company a “neutral” rating in a research note on Monday, December 15th. Barclays lowered their price objective on shares of Brown & Brown from $84.00 to $83.00 and set an “equal weight” rating for the company in a research note on Thursday, January 8th. UBS Group cut their target price on Brown & Brown from $120.00 to $106.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Brown & Brown in a research report on Tuesday, December 30th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $98.67.

Brown & Brown Company 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.