National Pension Service Boosts Stake in Brown & Brown, Inc. $BRO

National Pension Service lifted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 352,231 shares of the financial services provider’s stock after purchasing an additional 7,994 shares during the quarter. National Pension Service’s holdings in Brown & Brown were worth $33,036,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in Brown & Brown during the 2nd quarter worth about $30,000. Motco acquired a new position in shares of Brown & Brown in the second quarter valued at about $32,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Brown & Brown in the second quarter worth about $49,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Brown & Brown during the second quarter worth about $50,000. Finally, Evelyn Partners Investment Management LLP purchased a new stake in Brown & Brown in the second quarter valued at approximately $52,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on BRO shares. JPMorgan Chase & Co. assumed coverage on shares of Brown & Brown in a research report on Thursday, December 18th. They set a “neutral” rating and a $91.00 price target for the company. Argus raised shares of Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. BMO Capital Markets decreased their target price on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating for the company in a research report on Thursday, January 29th. Truist Financial lowered their price target on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Finally, Mizuho reduced their price objective on Brown & Brown from $90.00 to $84.00 and set a “neutral” rating for the company in a research note on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $90.64.

Brown & Brown Trading Down 1.1%

Shares of Brown & Brown stock opened at $71.32 on Tuesday. The firm has a 50-day simple moving average of $79.13 and a two-hundred day simple moving average of $86.92. The company has a market cap of $24.35 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 2.18 and a beta of 0.79. Brown & Brown, Inc. has a fifty-two week low of $70.92 and a fifty-two week high of $125.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.10 and a current ratio of 1.67.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $0.86 EPS. The company’s quarterly revenue was up 35.7% on a year-over-year basis. As a group, equities analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th will be given a $0.165 dividend. The ex-dividend date is Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Brown & Brown’s payout ratio is 20.63%.

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.