IFM Investors Pty Ltd Grows Holdings in Brown & Brown, Inc. (NYSE:BRO)

IFM Investors Pty Ltd grew its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,693 shares of the financial services provider's stock after purchasing an additional 7,472 shares during the quarter. IFM Investors Pty Ltd's holdings in Brown & Brown were worth $6,679,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BRO. Johnson Financial Group Inc. grew its position in shares of Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 235 shares during the period. Sunbelt Securities Inc. grew 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 purchasing an additional 256 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Brown & Brown in the fourth quarter valued at about $37,000. Garde Capital Inc. acquired a new position in Brown & Brown in the 1st quarter valued at $46,000. Finally, EverSource Wealth Advisors LLC raised its stake in Brown & Brown by 79.5% in the 4th 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.

Wall Street Analyst Weigh In

BRO has been the subject of several recent research reports. The Goldman Sachs Group downgraded Brown & Brown from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $126.00 to $119.00 in a research note on Tuesday, May 13th. Edward Jones assumed coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They set a "buy" rating on the stock. Truist Financial lowered their price target on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Jefferies Financial Group boosted their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Finally, Barclays boosted their price target on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $118.85.

Brown & Brown Trading Down 0.9%

BRO stock traded down $1.00 during trading on Monday, reaching $107.70. 458,126 shares of the stock were exchanged, compared to its average volume of 1,844,876. 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 50 day moving average price of $109.92 and a 200-day moving average price of $111.29. Brown & Brown, Inc. has a 1 year low of $89.92 and a 1 year high of $125.68. The firm has a market capitalization of $30.87 billion, a price-to-earnings ratio of 30.12, a P/E/G ratio of 2.38 and a beta of 0.82.

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 return on equity of 17.77% and a net margin of 20.84%. The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same period last year, the firm earned $1.14 earnings per share. Brown & Brown's revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders 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 0.56%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is 16.71%.

About Brown & Brown

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.