Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Twinbeech Capital LP

Twinbeech Capital LP raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 73.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,667 shares of the financial services provider's stock after acquiring an additional 44,437 shares during the period. Twinbeech Capital LP's holdings in Brown & Brown were worth $10,678,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BRO. Norges Bank acquired a new stake in shares of Brown & Brown during the fourth quarter valued at about $313,412,000. First Trust Advisors LP increased its position in shares of Brown & Brown by 626.6% during the fourth quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock valued at $239,751,000 after acquiring an additional 2,026,589 shares during the last quarter. Madison Investment Advisors LLC acquired a new position in shares of Brown & Brown in the fourth quarter valued at approximately $198,031,000. Vanguard Group Inc. increased its stake in Brown & Brown by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after buying an additional 1,335,964 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in Brown & Brown by 11,337.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider's stock worth $1,109,000 after buying an additional 1,099,199 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Up 0.2%

NYSE BRO opened at $111.95 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 52 week low of $85.97 and a 52 week high of $125.68. The stock has a market capitalization of $32.09 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87. The firm has a 50 day moving average of $116.16 and a two-hundred day moving average of $111.14.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company posted $1.14 EPS. The company's quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, May 12th. Brown & Brown's payout ratio is 16.71%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BRO. Truist Financial cut their target price on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. Keefe, Bruyette & Woods cut their target price on shares of Brown & Brown from $102.00 to $100.00 and set an "underperform" rating on the stock in a research note on Monday, May 5th. Bank of America upped their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group upped their target price on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $116.85.

About Brown & Brown

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.

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