Brown & Brown, Inc. $BRO Shares Purchased by Confluence Investment Management LLC

Key Points

• Confluence Investment Management boosted its stake in Brown & Brown by 38.5% in Q4 to 413,319 shares (about 0.12% of the company), valued at roughly $32.94 million, and institutional investors now own about 71.01% of the stock.
• Analyst sentiment is mixed—several firms have cut targets while others upgraded—leaving a MarketBeat consensus rating of 'Hold' with an average price target of $89.33.
• Shares trade near $66.55 (52‑week range $65.68–$125.68) after Q4 results that beat EPS at $0.93 vs. $0.91 but missed revenue at $1.61B vs. $1.65B, and the company pays a $0.165 quarterly dividend (about a 1.0% yield).

Confluence Investment Management LLC boosted its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 38.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 413,319 shares of the financial services provider's stock after buying an additional 114,959 shares during the period. Confluence Investment Management LLC owned approximately 0.12% of Brown & Brown worth $32,941,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in shares of Brown & Brown by 3.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,420,814 shares of the financial services provider's stock worth $133,258,000 after purchasing an additional 51,959 shares during the period. Tandem Investment Advisors Inc. increased its holdings in Brown & Brown by 69.7% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 1,385,214 shares of the financial services provider's stock valued at $129,919,000 after purchasing an additional 569,037 shares during the last quarter. Vanguard Group Inc. raised its position in Brown & Brown by 4.8% in the third quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider's stock valued at $3,501,264,000 after purchasing an additional 1,705,570 shares during the period. Invesco Ltd. raised its position in Brown & Brown by 1.1% in the second quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider's stock valued at $461,925,000 after purchasing an additional 46,235 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Brown & Brown by 43.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,600 shares of the financial services provider's stock worth $4,558,000 after purchasing an additional 14,678 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BRO shares. Truist Financial lowered their price target on Brown & Brown from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods raised Brown & Brown from an "underperform" rating to a "market perform" rating and decreased their target price for the stock from $80.00 to $73.00 in a research note on Thursday, January 29th. BMO Capital Markets lowered their target price on Brown & Brown from $88.00 to $81.00 and set a "market perform" rating for the company in a report on Thursday, January 29th. Jefferies Financial Group dropped their target price on Brown & Brown from $89.00 to $84.00 and set a "hold" rating for the company in a research report on Wednesday, January 28th. Finally, Mizuho upgraded shares of Brown & Brown from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $84.00 to $85.00 in a research note on Friday, February 27th. Four equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $89.33.

Brown & Brown Stock Performance

NYSE:BRO opened at $66.55 on Friday. Brown & Brown, Inc. has a 52 week low of $65.68 and a 52 week high of $125.68. The company has a fifty day simple moving average of $72.50 and a two-hundred day simple moving average of $80.97. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. The company has a market cap of $22.66 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 1.69 and a beta of 0.79.

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

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were given a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. Brown & Brown's dividend payout ratio (DPR) is currently 20.63%.

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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