Handelsbanken Fonder AB Grows Position in Brown & Brown, Inc. (NYSE:BRO)

Handelsbanken Fonder AB boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 172.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,314,434 shares of the financial services provider's stock after buying an additional 832,100 shares during the period. Brown & Brown makes up about 0.7% of Handelsbanken Fonder AB's portfolio, making the stock its 23rd largest position. Handelsbanken Fonder AB owned approximately 0.46% of Brown & Brown worth $163,516,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Brown & Brown in the fourth quarter valued at about $28,000. Johnson Financial Group Inc. boosted its position in Brown & Brown by 534.1% during the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after purchasing an additional 235 shares during the period. Sunbelt Securities Inc. boosted its position in shares of Brown & Brown by 581.8% in the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 256 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Brown & Brown in the fourth quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC lifted its position in Brown & Brown by 79.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 217 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Analyst Ratings Changes

BRO has been the topic of several research reports. Edward Jones began coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating on the stock. Keefe, Bruyette & Woods dropped their price target 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. UBS Group upped their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, April 9th. Jefferies Financial Group upped their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research report on Friday, April 11th. Finally, Truist Financial reduced their target price on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $118.25.

Brown & Brown Stock Down 1.0%

Shares of BRO stock traded down $1.10 during trading hours on Wednesday, reaching $104.39. 21,303,338 shares of the company's stock were exchanged, compared to its average volume of 1,581,663. Brown & Brown, Inc. has a 1 year low of $88.31 and a 1 year high of $125.68. The stock has a market cap of $29.92 billion, a PE ratio of 30.17, a PEG ratio of 2.93 and a beta of 0.84. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock's fifty day moving average price is $112.61 and its two-hundred day moving average price is $111.16.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, April 28th. The financial services provider reported $1.29 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 analysts' expectations of $1.41 billion. During the same quarter in the prior year, the company earned $1.14 EPS. Brown & Brown's quarterly revenue was up 11.6% on a year-over-year basis. Research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is presently 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.