Brown & Brown, Inc. (NYSE:BRO) Stock Position Raised by Two Sigma Investments LP

Two Sigma Investments LP boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 564.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 137,664 shares of the financial services provider's stock after purchasing an additional 116,959 shares during the quarter. Two Sigma Investments LP's holdings in Brown & Brown were worth $14,044,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BRO. Norges Bank purchased a new position in Brown & Brown during the fourth quarter worth $313,412,000. First Trust Advisors LP boosted its position in 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 worth $239,751,000 after acquiring an additional 2,026,589 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in Brown & Brown in the 4th quarter worth approximately $198,031,000. Vanguard Group Inc. raised its holdings in Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after acquiring an additional 1,335,964 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in Brown & Brown by 11,337.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider's stock valued at $1,109,000 after acquiring an additional 1,099,199 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Bank of America lifted their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Edward Jones assumed coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating for the company. Truist Financial decreased their price target on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Royal Bank of Canada lifted their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a research note on Monday, May 5th. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $116.85.

Brown & Brown Stock Up 1.0%

Shares of Brown & Brown stock traded up $1.12 during trading on Tuesday, reaching $111.94. The company had a trading volume of 1,503,489 shares, compared to its average volume of 1,485,656. 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, Inc. has a fifty-two week low of $85.97 and a fifty-two week high of $125.68. The firm's fifty day moving average is $115.37 and its 200-day moving average is $111.20. The company has a market cap of $32.08 billion, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share 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 firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

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

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.