UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $95.44 Million Position in Brown & Brown, Inc. $BRO

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in Brown & Brown, Inc. (NYSE:BRO) by 1.7% in the second quarter, Holdings Channel.com reports. The firm owned 1,487,718 shares of the financial services provider’s stock after selling 25,404 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Brown & Brown were worth $95,437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Brown & Brown during the second quarter valued at $1,418,571,000. Norges Bank purchased a new stake in Brown & Brown in the 4th quarter worth about $516,837,000. Capital International Investors purchased a new stake in Brown & Brown in the 4th quarter worth about $371,654,000. Deutsche Bank AG acquired a new stake in Brown & Brown during the 2nd quarter worth about $266,941,000. Finally, Bank of America Corp DE acquired a new stake in Brown & Brown during the 2nd quarter worth about $228,051,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BRO. JPMorgan Chase & Co. upped their target price on Brown & Brown from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Brown & Brown in a research report on Wednesday, July 29th. Truist Financial set a $90.00 price objective on shares of Brown & Brown in a research note on Wednesday, July 29th. BMO Capital Markets increased their target price on shares of Brown & Brown from $73.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Finally, Barclays lifted their target price on shares of Brown & Brown from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $76.80.

Brown & Brown Stock Down 0.3%

BRO opened at $71.92 on Wednesday. The company has a market capitalization of $24.07 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 2.22 and a beta of 0.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $97.15. The business has a 50-day moving average of $69.56 and a 200-day moving average of $65.85.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 EPS 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 previous year, the firm posted $1.03 EPS. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. Equities research analysts forecast that Brown & Brown, Inc. will post 4.5 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th were paid a $0.165 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Brown & Brown’s payout ratio is 20.82%.

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.