Danske Bank A S Boosts Position in Brown & Brown, Inc. $BRO

Key Points

• Danske Bank A/S raised its stake in Brown & Brown by 10.8% in Q4, buying 19,800 shares to hold 202,363 shares worth about $16.13 million, and institutional investors now own roughly 71.0% of the company.
• Q1 results beat: Brown & Brown reported $1.39 EPS vs. $1.36 expected and $1.90 billion in revenue (up 35.4% YoY), and announced a quarterly dividend of $0.165 ($0.66 annualized, ~1.1% yield).
• Analysts have an average rating of "Hold" with an average price target of $83, and the stock trades around $57.58 with a market cap of $19.52 billion and a P/E of 18.52.

Danske Bank A S grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 202,363 shares of the financial services provider's stock after buying an additional 19,800 shares during the period. Danske Bank A S owned 0.06% of Brown & Brown worth $16,128,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Cornerstone Planning Group LLC boosted its position in shares of Brown & Brown by 423.1% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Brown & Brown during the second quarter valued at approximately $30,000. Board of the Pension Protection Fund bought a new stake in shares of Brown & Brown during the fourth quarter valued at approximately $40,000. True Wealth Design LLC boosted its position in shares of Brown & Brown by 4,369.2% during the third quarter. True Wealth Design LLC now owns 581 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 568 shares in the last quarter. Finally, Maseco LLP bought a new stake in shares of Brown & Brown during the fourth quarter valued at approximately $60,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Trading Down 0.1%

Brown & Brown stock opened at $57.58 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52. The business's fifty day simple moving average is $67.60 and its two-hundred day simple moving average is $74.90. Brown & Brown, Inc. has a 12 month low of $57.46 and a 12 month high of $113.83. The company has a market capitalization of $19.52 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 2.66 and a beta of 0.66.

Brown & Brown (NYSE:BRO - Get Free Report) last released its earnings results on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The company's revenue for the quarter was up 35.4% compared to the same quarter last year. As a group, equities analysts predict that Brown & Brown, Inc. will post 4.51 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, May 11th. Brown & Brown's payout ratio is 21.22%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BRO shares. Keefe, Bruyette & Woods dropped their price target on Brown & Brown from $74.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 29th. BMO Capital Markets dropped their price target on Brown & Brown from $88.00 to $81.00 and set a "market perform" rating on the stock in a research report on Thursday, January 29th. Mizuho dropped their price target on Brown & Brown from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Monday, April 13th. Truist Financial dropped their price target on Brown & Brown from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Finally, Argus upgraded Brown & Brown to a "hold" rating in a research report on Tuesday, January 27th. Three research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and an average price target of $83.00.

About Brown & Brown

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.

Want to see what other hedge funds are holding BRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brown & Brown, Inc. (NYSE:BRO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.