Baird Financial Group Inc. Has $18.19 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Baird Financial Group Inc. trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 178,259 shares of the financial services provider's stock after selling 8,160 shares during the quarter. Baird Financial Group Inc. owned 0.06% of Brown & Brown worth $18,186,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after acquiring an additional 1,335,964 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Brown & Brown by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock valued at $1,316,259,000 after purchasing an additional 94,121 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Brown & Brown by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider's stock worth $620,737,000 after buying an additional 118,569 shares during the period. Capital World Investors raised its position in Brown & Brown by 15.6% in the 4th quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider's stock valued at $428,043,000 after buying an additional 566,116 shares during the last quarter. Finally, Invesco Ltd. raised its position in Brown & Brown by 11.4% in the 4th quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider's stock valued at $388,045,000 after buying an additional 388,411 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Stock Performance

NYSE:BRO traded down $0.11 during mid-day trading on Friday, hitting $111.42. 922,426 shares of the stock were exchanged, compared to its average volume of 1,468,106. The firm's 50-day simple moving average is $117.15 and its 200 day simple moving average is $110.82. The stock has a market capitalization of $31.93 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87. Brown & Brown, Inc. has a fifty-two week low of $85.89 and a fifty-two week high of $125.68. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The company's revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 EPS. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is currently 16.71%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Bank of America upped their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Truist Financial decreased their price target on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Edward Jones initiated coverage on Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating on the stock. Finally, UBS Group raised their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Brown & Brown has a consensus rating of "Hold" and a consensus price target of $116.67.

Brown & Brown Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.