93,747 Brown & Brown, Inc. $BRO Shares Purchased by MassMutual Private Wealth & Trust FSB

Key Points

• MassMutual Private Wealth & Trust FSB increased its Brown & Brown stake by 7,129%, purchasing 93,747 additional shares for a total of 95,062 shares valued at approximately $5.8 million. Institutional investors collectively own 71.01% of BRO.
• Analysts maintain a largely neutral outlook, with a consensus “Hold” rating and an average price target of $76.80. Four analysts rate the stock a Buy, 14 Hold, and one Sell.
• Brown & Brown reported quarterly revenue of $1.65 billion, up 30.4% year over year, though EPS of $1.07 narrowly missed estimates. The company also paid a quarterly dividend of $0.165 per share, equivalent to a 1.1% annualized yield.

MassMutual Private Wealth & Trust FSB increased its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 7,129.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,062 shares of the financial services provider's stock after purchasing an additional 93,747 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Brown & Brown were worth $5,789,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BRO. BlackRock Inc. bought a new position in shares of Brown & Brown in the second quarter valued at approximately $1,418,571,000. Capital International Investors bought a new stake in Brown & Brown during the 4th quarter worth approximately $371,654,000. Deutsche Bank AG bought a new stake in Brown & Brown during the 2nd quarter worth approximately $266,941,000. Bank of America Corp DE purchased a new stake in Brown & Brown in the 2nd quarter worth approximately $228,051,000. Finally, Van Lanschot Kempen Investment Management N.V. lifted its stake in Brown & Brown by 132.8% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,538,584 shares of the financial services provider's stock worth $361,725,000 after purchasing an additional 2,589,048 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on BRO shares. Citizens Jmp boosted their price target on shares of Brown & Brown from $70.00 to $78.00 and gave the company a "market outperform" rating in a research report on Friday, July 10th. BMO Capital Markets boosted their target price on Brown & Brown from $73.00 to $74.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 29th. UBS Group reaffirmed a "neutral" rating and issued a $73.00 price target (up from $65.00) on shares of Brown & Brown in a report on Wednesday, July 8th. Barclays lifted their price target on Brown & Brown from $72.00 to $76.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on Brown & Brown from $72.00 to $74.00 and gave the stock a "market perform" rating in a report on Wednesday, July 8th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $76.80.

Brown & Brown Trading Up 1.8%

Shares of BRO stock opened at $60.98 on Tuesday. The business has a 50-day moving average price of $68.54 and a two-hundred day moving average price of $65.00. Brown & Brown, Inc. has a 12-month low of $53.81 and a 12-month high of $96.55. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. The firm has a market cap of $20.40 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 1.84 and a beta of 0.60.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company posted $1.03 earnings per share. Brown & Brown's revenue for the quarter was up 30.4% compared to the same quarter last year. Equities analysts anticipate that Brown & Brown, Inc. will post 4.5 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were paid a $0.1650 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.1%. Brown & Brown's dividend payout ratio is 20.82%.

Brown & Brown Company Profile

Brown & Brown, Inc is an independent insurance brokerage, risk management and employee benefits firm headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance placement, risk consulting and related services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialized insurance programs. Brown & Brown also operates wholesale brokerage businesses that provide coverage solutions and access to insurance markets for retail agents and brokers, including products designed for specialty and hard-to-place risks.

Founded in 1939 by J.

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