Rathbones Group PLC Has $75.27 Million Holdings in Brown & Brown, Inc. $BRO

Rathbones Group PLC lifted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 17.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,154,219 shares of the financial services provider’s stock after acquiring an additional 173,265 shares during the period. Rathbones Group PLC owned approximately 0.34% of Brown & Brown worth $75,267,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Brown & Brown in the 4th quarter worth $516,837,000. Capital International Investors acquired a new stake in shares of Brown & Brown in the 4th quarter valued at about $371,654,000. Van Lanschot Kempen Investment Management N.V. raised its stake in shares of Brown & Brown by 132.8% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,538,584 shares of the financial services provider’s stock valued at $361,725,000 after purchasing an additional 2,589,048 shares during the period. Deutsche Bank AG lifted its holdings in shares of Brown & Brown by 53.0% in the fourth quarter. Deutsche Bank AG now owns 3,929,461 shares of the financial services provider’s stock valued at $313,178,000 after purchasing an additional 1,361,934 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Brown & Brown by 1,679.0% in the third quarter. AQR Capital Management LLC now owns 1,204,318 shares of the financial services provider’s stock valued at $112,953,000 after purchasing an additional 1,136,623 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on BRO. Keefe, Bruyette & Woods upped their price objective on Brown & Brown from $72.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings lowered Brown & Brown from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. BMO Capital Markets upped their price target on Brown & Brown from $73.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. decreased their price target on shares of Brown & Brown from $81.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Finally, Barclays boosted their price objective on shares of Brown & Brown from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $79.06.

Brown & Brown Trading Up 0.1%

Shares of Brown & Brown stock opened at $70.50 on Monday. The stock has a market cap of $23.59 billion, a P/E ratio of 22.24, a P/E/G ratio of 3.52 and a beta of 0.59. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. Brown & Brown, Inc. has a 12-month low of $53.81 and a 12-month high of $98.30. The business’s 50 day moving average is $63.65 and its 200-day moving average is $66.37.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business posted $1.03 earnings per share. Brown & Brown’s quarterly revenue was up 30.4% compared to the same quarter last year. Equities research analysts predict that Brown & Brown, Inc. will post 4.49 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.165 per share. The ex-dividend date is Wednesday, August 12th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. Brown & Brown’s payout ratio is currently 20.82%.

Insider Buying and Selling at Brown & Brown

In other news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were bought at an average cost of $57.10 per share, for a total transaction of $114,200.00. Following the purchase, the director directly owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. This trade represents a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.13% of the stock is owned by corporate insiders.

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.