Northern Trust Corp Acquires 293,403 Shares of Brown & Brown, Inc. (NYSE:BRO)

Northern Trust Corp lifted its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,320,198 shares of the financial services provider's stock after buying an additional 293,403 shares during the period. Northern Trust Corp owned about 0.81% of Brown & Brown worth $236,707,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BRO. Journey Strategic Wealth LLC raised its position in Brown & Brown by 2.3% in the fourth quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock worth $458,000 after acquiring an additional 99 shares during the period. CWA Asset Management Group LLC raised its position in shares of Brown & Brown by 3.7% during the 4th quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider's stock valued at $297,000 after buying an additional 103 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Brown & Brown by 3.4% during the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider's stock valued at $323,000 after purchasing an additional 103 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Brown & Brown by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,664 shares of the financial services provider's stock worth $476,000 after buying an additional 113 shares during the period. Finally, Synovus Financial Corp raised its holdings in Brown & Brown by 1.9% in the 3rd quarter. Synovus Financial Corp now owns 6,157 shares of the financial services provider's stock worth $638,000 after purchasing an additional 117 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Up 0.2 %

Shares of BRO traded up $0.26 during midday trading on Tuesday, hitting $110.66. The stock had a trading volume of 521,833 shares, compared to its average volume of 1,460,674. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a market cap of $31.72 billion, a P/E ratio of 32.01, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The business has a 50-day simple moving average of $117.74 and a two-hundred day simple moving average of $110.74. Brown & Brown, Inc. has a fifty-two week low of $83.60 and a fifty-two week high of $125.68.

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

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. Brown & Brown's payout ratio is currently 16.71%.

Analysts Set New Price Targets

BRO has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. Wells Fargo & Company lifted their price objective 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. Edward Jones started coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They set a "buy" rating for the company. Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a research note on Monday. Finally, Truist Financial dropped their target price on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Brown & Brown currently has a consensus rating of "Hold" and an average target price of $116.67.

Brown & Brown Company 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.