Amundi Has $41.46 Million Holdings in Brown & Brown, Inc. $BRO

Amundi raised its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 9.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 646,239 shares of the financial services provider's stock after purchasing an additional 54,166 shares during the period. Amundi owned 0.19% of Brown & Brown worth $41,456,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System boosted its position in Brown & Brown by 7,957.4% during the second quarter. California State Teachers Retirement System now owns 27,128,907 shares of the financial services provider's stock valued at $1,740,319,000 after acquiring an additional 26,792,212 shares during the last quarter. BlackRock Inc. bought a new position in shares of Brown & Brown in the 2nd quarter worth about $1,418,571,000. Norges Bank bought a new position in shares of Brown & Brown in the 4th quarter worth about $516,837,000. Capital International Investors acquired a new position in shares of Brown & Brown in the 4th quarter valued at about $371,654,000. Finally, Deutsche Bank AG acquired a new position in shares of Brown & Brown in the 2nd quarter valued at about $266,941,000. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on BRO. Jefferies Financial Group restated a "hold" rating on shares of Brown & Brown in a research report on Wednesday, July 29th. Raymond James Financial reiterated an "outperform" rating on shares of Brown & Brown in a report on Friday, June 26th. Keefe, Bruyette & Woods boosted their price target on Brown & Brown from $72.00 to $74.00 and gave the company a "market perform" rating in a research note on Wednesday, July 8th. Royal Bank Of Canada restated a "sector perform" rating on shares of Brown & Brown in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Brown & Brown from $78.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $76.80.

Brown & Brown Stock Down 0.3%

Shares of NYSE:BRO opened at $66.33 on Friday. The business has a fifty day moving average price of $70.28 and a two-hundred day moving average price of $65.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. The company has a market capitalization of $22.19 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.58. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $96.55.

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 return on equity of 13.17% and a net margin of 17.75%.The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm posted $1.03 EPS. The business's revenue was up 30.4% on a year-over-year basis. Analysts forecast that Brown & Brown, Inc. will post 4.5 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were paid a $0.165 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. Brown & Brown's dividend payout ratio (DPR) is presently 20.82%.

Brown & Brown Profile

Brown & Brown, Inc is an independent insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk by providing insurance products and related advisory services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialty insurance programs. Brown & Brown also operates wholesale brokerage and managing general agency businesses, which provide specialized coverage and market access to retail insurance agents and brokers.

Founded in 1939 by J.

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