Renaissance Technologies LLC lowered its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 54.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,000 shares of the financial services provider's stock after selling 166,400 shares during the period. Renaissance Technologies LLC's holdings in Brown & Brown were worth $13,977,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Brown & Brown during the 4th quarter worth approximately $28,000. Y.D. More Investments Ltd raised its holdings in shares of Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after acquiring an additional 162 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Brown & Brown in the fourth quarter valued at $31,000. SBI Securities Co. Ltd. purchased a new stake in Brown & Brown during the 4th quarter worth about $37,000. Finally, Versant Capital Management Inc raised its stake in Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently commented on BRO. Wells Fargo & Company lifted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Truist Financial raised their target price on shares of Brown & Brown from $118.00 to $138.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Jefferies Financial Group boosted their price target on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a report on Friday, April 11th. UBS Group raised their price objective on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, April 9th. Finally, Bank of America increased their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $117.50.
Read Our Latest Analysis on Brown & Brown
Brown & Brown Stock Down 1.4 %
NYSE:BRO traded down $1.63 during trading hours on Friday, hitting $117.17. The stock had a trading volume of 1,795,477 shares, compared to its average volume of 1,434,890. The business has a 50 day simple moving average of $117.44 and a two-hundred day simple moving average of $110.14. Brown & Brown, Inc. has a 1-year low of $80.87 and a 1-year high of $125.68. 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 company has a market cap of $33.50 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75.
Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.
Brown & Brown Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.51%. Brown & Brown's dividend payout ratio is presently 17.34%.
Brown & Brown Profile
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Free Report)
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.
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