NEOS Investment Management LLC Has $2.46 Million Stock Position in Brown & Brown, Inc. $BRO

NEOS Investment Management LLC lifted its position in Brown & Brown, Inc. (NYSE:BRO) by 52.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,270 shares of the financial services provider’s stock after buying an additional 9,015 shares during the period. NEOS Investment Management LLC’s holdings in Brown & Brown were worth $2,464,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in shares of Brown & Brown in the second quarter worth about $30,000. Cornerstone Planning Group LLC raised its holdings in Brown & Brown by 423.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $26,000 after buying an additional 220 shares during the period. Motco bought a new position in Brown & Brown in the second quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Brown & Brown in the second quarter valued at approximately $49,000. Finally, Evelyn Partners Investment Management LLP bought a new stake in shares of Brown & Brown during the second quarter worth $52,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BRO. Raymond James Financial reaffirmed an “outperform” rating on shares of Brown & Brown in a research report on Monday, November 3rd. Jefferies Financial Group reduced their price objective on Brown & Brown from $89.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, January 28th. Argus upgraded Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. Mizuho cut their target price on Brown & Brown from $90.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 28th. Finally, Truist Financial decreased their price target on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.36.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $69.46 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a 50 day moving average price of $76.65 and a 200 day moving average price of $84.46. The stock has a market capitalization of $23.65 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.79. Brown & Brown, Inc. has a 52 week low of $65.68 and a 52 week high of $125.68.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The business’s revenue was up 35.7% compared to the same quarter last year. Analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, February 4th. Brown & Brown’s dividend payout ratio (DPR) is 20.63%.

Brown & Brown 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.