Deutsche Bank AG Has $146.05 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Deutsche Bank AG raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 22.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,431,562 shares of the financial services provider's stock after purchasing an additional 265,179 shares during the period. Deutsche Bank AG owned 0.50% of Brown & Brown worth $146,048,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Journey Strategic Wealth LLC boosted its position in shares of Brown & Brown by 2.3% in the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock worth $458,000 after purchasing an additional 99 shares in the last quarter. Bleakley Financial Group LLC grew its position 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 acquiring an additional 103 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Brown & Brown by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 4,664 shares of the financial services provider's stock valued at $476,000 after acquiring an additional 113 shares during the period. Lido Advisors LLC boosted its holdings in Brown & Brown by 2.6% in the 4th quarter. Lido Advisors LLC now owns 4,690 shares of the financial services provider's stock worth $479,000 after buying an additional 120 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Brown & Brown by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,379 shares of the financial services provider's stock worth $2,079,000 after buying an additional 130 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on BRO shares. Morgan Stanley restated an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Royal Bank of Canada boosted their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. The Goldman Sachs Group lowered shares of Brown & Brown from a "buy" rating to a "neutral" rating and reduced their price target for the company from $126.00 to $119.00 in a research report on Tuesday. Keefe, Bruyette & Woods reduced their price target on shares of Brown & Brown from $102.00 to $100.00 and set an "underperform" rating on the stock in a research report on Monday, May 5th. Finally, Truist Financial reduced their price target on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of "Hold" and a consensus price target of $116.85.

Brown & Brown Trading Down 0.6%

NYSE BRO traded down $0.62 during mid-day trading on Wednesday, reaching $108.40. 1,549,980 shares of the stock were exchanged, compared to its average volume of 1,470,381. The stock has a market capitalization of $31.07 billion, a PE ratio of 31.33, a PEG ratio of 2.93 and a beta of 0.87. The business's fifty day simple moving average is $116.57 and its 200 day simple moving average is $110.91. Brown & Brown, Inc. has a 1-year low of $85.97 and a 1-year 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 released its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $1.14 EPS. On average, research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.55%. The ex-dividend date is Monday, May 12th. Brown & Brown's dividend payout ratio is currently 16.71%.

About Brown & Brown

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.