Brown & Brown, Inc. $BRO Shares Acquired by Speece Thorson Capital Group Inc.

Key Points

• Speece Thorson Capital Group increased its stake in Brown & Brown by 65.8% in the fourth quarter, buying an additional 62,326 shares to hold 157,113 shares worth about $12.52 million, making BRO its 20th largest position (2.7% of the firm's holdings).
• Institutional ownership of Brown & Brown is high at 71.01%, with multiple funds boosting positions—most notably Arrowstreet Capital, which raised its stake by 1,824.7% to 53,103 shares—signaling growing institutional interest.
• Wall Street consensus is a "Hold" with a $84.27 target; several analysts recently cut price targets (e.g., Mizuho to $84, Barclays to $72), while BRO trades near $65.95 within a 12-month range of $63.29–$116.41.

Speece Thorson Capital Group Inc. grew its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 65.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 157,113 shares of the financial services provider's stock after purchasing an additional 62,326 shares during the period. Brown & Brown makes up 2.7% of Speece Thorson Capital Group Inc.'s holdings, making the stock its 20th largest position. Speece Thorson Capital Group Inc.'s holdings in Brown & Brown were worth $12,522,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BRO. AQR Capital Management LLC increased its holdings in shares of Brown & Brown by 38.3% in the first quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider's stock valued at $4,132,000 after purchasing an additional 9,264 shares during the period. Focus Partners Wealth increased its holdings in shares of Brown & Brown by 5.2% in the first quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider's stock valued at $1,387,000 after purchasing an additional 547 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Brown & Brown by 1,824.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 53,103 shares of the financial services provider's stock valued at $5,888,000 after purchasing an additional 50,344 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Brown & Brown by 27.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the financial services provider's stock valued at $116,000 after purchasing an additional 223 shares during the period. Finally, Cary Street Partners Financial LLC increased its holdings in shares of Brown & Brown by 60.9% in the second quarter. Cary Street Partners Financial LLC now owns 933 shares of the financial services provider's stock valued at $103,000 after purchasing an additional 353 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BRO shares. Mizuho cut their price objective on Brown & Brown from $85.00 to $84.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Barclays dropped their target price on Brown & Brown from $80.00 to $72.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 8th. Truist Financial dropped their target price on Brown & Brown from $105.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Brown & Brown in a report on Monday, December 29th. Finally, Royal Bank Of Canada initiated coverage on Brown & Brown in a report on Tuesday, March 17th. They set a "sector perform" rating and a $76.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $84.27.

Brown & Brown Stock Performance

Shares of BRO stock opened at $65.95 on Friday. The company has a market capitalization of $22.45 billion, a P/E ratio of 20.61, a P/E/G ratio of 1.84 and a beta of 0.83. The business's 50 day moving average is $68.10 and its two-hundred day moving average is $75.96. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.55. Brown & Brown, Inc. has a 12-month low of $63.29 and a 12-month high of $116.41.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.65 billion. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.Brown & Brown's revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 earnings per share. Analysts expect that Brown & Brown, Inc. will post 4.54 EPS for the current fiscal year.

Brown & Brown Company Profile

Brown & Brown, Inc NYSE: BRO is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.

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