Lountzis Asset Management LLC lessened its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 9.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 109,081 shares of the financial services provider's stock after selling 11,821 shares during the period. Brown & Brown comprises about 4.7% of Lountzis Asset Management LLC's portfolio, making the stock its 7th biggest position. Lountzis Asset Management LLC's holdings in Brown & Brown were worth $12,531,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in BRO. Norges Bank acquired a new position in shares of Brown & Brown in the 4th quarter valued at about $313,412,000. First Trust Advisors LP raised its stake in Brown & Brown by 626.6% during the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock worth $239,751,000 after buying an additional 2,026,589 shares during the period. Madison Investment Advisors LLC acquired a new position in Brown & Brown during the 4th quarter worth approximately $198,031,000. Vanguard Group Inc. raised 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, GAMMA Investing LLC raised its stake in Brown & Brown by 13,974.9% during the 1st quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider's stock worth $138,427,000 after buying an additional 1,104,852 shares during the period. Institutional investors own 71.01% of the company's stock.
Analyst Upgrades and Downgrades
BRO has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their price target on Brown & Brown from $102.00 to $104.00 and gave the stock an "underperform" rating in a research note on Wednesday. Barclays dropped their price target on Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Monday. Truist Financial dropped their price target on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $127.00 price target (up from $125.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and a consensus target price of $118.23.
Check Out Our Latest Stock Report on BRO
Brown & Brown Stock Performance
Shares of BRO stock traded down $1.23 during trading on Friday, hitting $106.58. The company's stock had a trading volume of 1,180,147 shares, compared to its average volume of 2,376,457. The company has a market cap of $30.55 billion, a PE ratio of 29.69, a P/E/G ratio of 2.37 and a beta of 0.82. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $109.68 and a 200-day moving average of $111.31. Brown & Brown, Inc. has a 52 week low of $92.11 and a 52 week high of $125.68.
Brown & Brown (NYSE:BRO - Get Free Report) last released 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 20.84% and a return on equity of 17.77%. The business 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 company earned $1.14 earnings per share. The business's revenue was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.
Brown & Brown Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is 16.71%.
About Brown & Brown
(
Free Report)
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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