Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Board of the Pension Protection Fund

Board of the Pension Protection Fund raised its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 580.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,800 shares of the financial services provider's stock after buying an additional 5,800 shares during the quarter. Board of the Pension Protection Fund's holdings in Brown & Brown were worth $846,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Brown & Brown in the fourth quarter valued at about $28,000. Johnson Financial Group Inc. lifted its position in Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 235 shares during the period. Sunbelt Securities Inc. boosted its holdings in Brown & Brown by 581.8% in the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 256 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Brown & Brown in the 4th quarter valued at approximately $37,000. Finally, Garde Capital Inc. acquired a new position in Brown & Brown during the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Price Performance

NYSE BRO traded up $0.47 during trading hours on Friday, reaching $109.74. The company's stock had a trading volume of 12,687,961 shares, compared to its average volume of 1,772,952. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 2.52. The company's 50-day moving average is $110.83 and its two-hundred day moving average is $110.95. Brown & Brown, Inc. has a fifty-two week low of $88.31 and a fifty-two week high of $125.68. The stock has a market cap of $31.46 billion, a PE ratio of 30.57, a PEG ratio of 2.38 and a beta of 0.84.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's payout ratio is currently 16.71%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. The Goldman Sachs Group cut 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 report on Tuesday, May 13th. BMO Capital Markets reissued an "outperform" rating and issued a $122.00 target price (up previously from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. UBS Group boosted their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 9th. Barclays increased their price target on shares of Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Finally, Truist Financial reduced their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $118.85.

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.