Brown & Brown, Inc. $BRO Shares Bought by Rathbones Group PLC

Key Points

• Rathbones Group PLC raised its stake in Brown & Brown by 23.4% in Q4 to 980,954 shares, representing a 0.29% ownership worth about $78.18 million.
• Brown & Brown reported Q4 EPS of $0.93, beating estimates by $0.02, while revenue was $1.61 billion (slightly below expectations) but up 35.7% year‑over‑year.
• The company pays a quarterly dividend of $0.165 ($0.66 annualized, ~1.0% yield) and carries a consensus analyst rating of Hold with a $89.33 consensus target price amid several recent price‑target reductions.

Rathbones Group PLC increased its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 23.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 980,954 shares of the financial services provider's stock after acquiring an additional 186,251 shares during the quarter. Rathbones Group PLC owned approximately 0.29% of Brown & Brown worth $78,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BRO. Cornerstone Planning Group LLC raised its holdings in Brown & Brown by 423.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider's stock worth $26,000 after buying an additional 220 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Brown & Brown in the second quarter worth approximately $30,000. Board of the Pension Protection Fund purchased a new position in shares of Brown & Brown in the fourth quarter worth approximately $40,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Brown & Brown during the second quarter valued at approximately $49,000. Finally, True Wealth Design LLC lifted its position in shares of Brown & Brown by 4,369.2% in the 3rd quarter. True Wealth Design LLC now owns 581 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 568 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Stock Down 0.1%

BRO opened at $65.91 on Monday. The company has a market capitalization of $22.44 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.66 and a beta of 0.83. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66. Brown & Brown, Inc. has a fifty-two week low of $63.29 and a fifty-two week high of $125.68. The business has a 50-day moving average of $69.42 and a 200-day moving average of $78.59.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The business had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The firm's quarterly revenue was up 35.7% compared to the same quarter last year. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were paid a dividend of $0.165 per share. The ex-dividend date was Wednesday, February 4th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. Brown & Brown's dividend payout ratio is 20.63%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial cut their target price on shares of Brown & Brown from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, January 28th. Mizuho upgraded Brown & Brown from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $84.00 to $85.00 in a report on Friday, February 27th. Wells Fargo & Company dropped their price target on Brown & Brown from $82.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Friday, February 13th. Bank of America decreased their price objective on Brown & Brown from $94.00 to $90.00 and set a "neutral" rating for the company in a research report on Tuesday, January 27th. Finally, Morgan Stanley lowered their target price on Brown & Brown from $85.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 29th. Four research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $89.33.

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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