Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 18.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,566,264 shares of the financial services provider's stock after acquiring an additional 240,188 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.55% of Brown & Brown worth $159,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC acquired a new stake in Brown & Brown during the 4th quarter worth about $28,000. Johnson Financial Group Inc. grew its stake in shares of Brown & Brown by 534.1% in the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after buying an additional 235 shares in the last quarter. Y.D. More Investments Ltd boosted its position in Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd bought a new stake in Brown & Brown during the fourth quarter worth approximately $31,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $37,000. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BRO. The Goldman Sachs Group lowered Brown & Brown from a "buy" rating to a "neutral" rating and cut their target price for the company from $126.00 to $119.00 in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods lowered their target price on Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a research note on Monday, May 5th. Morgan Stanley reiterated an "equal weight" rating and issued a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. Truist Financial decreased their price target on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Bank of America raised their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $116.85.

Brown & Brown Stock Down 0.6%

Shares of Brown & Brown stock opened at $110.37 on Friday. The business's 50 day simple moving average is $115.71 and its 200 day simple moving average is $111.18. Brown & Brown, Inc. has a 52-week low of $85.97 and a 52-week high of $125.68. The firm has a market cap of $31.63 billion, a PE ratio of 31.90, a P/E/G ratio of 2.93 and a beta of 0.87. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.

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

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, May 12th. Brown & Brown's dividend payout ratio is presently 16.71%.

Brown & Brown 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.

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