Lynwood Price Capital Management LP Grows Stock Position in Brown & Brown, Inc. $BRO

Key Points

• Lynwood Price Capital Management increased its stake in Brown & Brown by 168.3%, adding 55,200 shares to hold 88,000 shares valued at about $8.25 million, representing 4.1% of its portfolio and the firm's 10th largest position.
• Brown & Brown posted Q results with $0.93 EPS (above the $0.91 estimate) and revenue of $1.61B (up 35.7% YoY but slightly below estimates); the stock has a $22.8B market cap, a ~21 P/E, a 1.0% dividend yield ($0.66 annualized), and a consensus analyst rating of “Hold” with an average price target of $89.33.

Lynwood Price Capital Management LP increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 168.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 88,000 shares of the financial services provider's stock after purchasing an additional 55,200 shares during the period. Brown & Brown accounts for 4.1% of Lynwood Price Capital Management LP's investment portfolio, making the stock its 10th largest position. Lynwood Price Capital Management LP's holdings in Brown & Brown were worth $8,254,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in BRO. Cornerstone Planning Group LLC increased 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 buying an additional 220 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Brown & Brown in the second quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Brown & Brown in the second quarter valued at approximately $49,000. Evelyn Partners Investment Management LLP purchased a new position in Brown & Brown during the second quarter valued at approximately $52,000. Finally, True Wealth Design LLC increased its holdings in Brown & Brown by 4,369.2% during the 3rd quarter. True Wealth Design LLC now owns 581 shares of the financial services provider's stock worth $54,000 after acquiring an additional 568 shares during the period. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $67.09 on Thursday. The stock's 50-day moving average is $72.78 and its 200 day moving average is $81.08. The stock has a market cap of $22.84 billion, a price-to-earnings ratio of 20.97, a P/E/G ratio of 1.83 and a beta of 0.79. Brown & Brown, Inc. has a 1-year low of $65.68 and a 1-year high of $125.68. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Brown & Brown's revenue for the quarter was up 35.7% on a year-over-year basis. On average, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Wednesday, February 4th. Brown & Brown's payout ratio is presently 20.63%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BRO shares. Wolfe Research assumed coverage on shares of Brown & Brown in a report on Thursday, November 20th. They issued a "peer perform" rating for the company. Truist Financial decreased their price target on shares of Brown & Brown from $105.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, January 28th. Royal Bank Of Canada began coverage on Brown & Brown in a research report on Tuesday. They issued a "sector perform" rating and a $76.00 price objective on the stock. Bank of America dropped their price objective on Brown & Brown from $94.00 to $90.00 and set a "neutral" rating for the company in a research note on Tuesday, January 27th. Finally, Jefferies Financial Group decreased their target price on Brown & Brown from $89.00 to $84.00 and set a "hold" rating on the stock in a research note on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $89.33.

Brown & Brown Company Profile

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.

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