Nykredit A S Buys New Position in Brown & Brown, Inc. $BRO

Nykredit A S purchased a new stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 56,132 shares of the financial services provider's stock, valued at approximately $3,601,000.

Other large investors have also bought and sold shares of the company. Rathbones Group PLC increased its stake in Brown & Brown by 17.7% in the 1st quarter. Rathbones Group PLC now owns 1,154,219 shares of the financial services provider's stock valued at $75,267,000 after buying an additional 173,265 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Brown & Brown by 6,588.6% in the second quarter. Assenagon Asset Management S.A. now owns 289,013 shares of the financial services provider's stock worth $18,540,000 after purchasing an additional 284,692 shares during the last quarter. Renaissance Technologies LLC boosted its position in Brown & Brown by 46.5% in the first quarter. Renaissance Technologies LLC now owns 1,573,902 shares of the financial services provider's stock worth $102,634,000 after purchasing an additional 499,902 shares during the last quarter. Swiss National Bank grew its stake in Brown & Brown by 7.3% in the 1st quarter. Swiss National Bank now owns 851,700 shares of the financial services provider's stock valued at $55,539,000 after purchasing an additional 58,100 shares during the period. Finally, MUFG Securities EMEA plc increased its position in shares of Brown & Brown by 924.0% during the 4th quarter. MUFG Securities EMEA plc now owns 57,425 shares of the financial services provider's stock valued at $4,577,000 after purchasing an additional 51,817 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Down 2.9%

Shares of NYSE:BRO opened at $62.45 on Wednesday. The firm has a fifty day moving average price of $69.79 and a two-hundred day moving average price of $65.57. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.98 and a beta of 0.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $96.55.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the company posted $1.03 EPS. The company's revenue for the quarter was up 30.4% compared to the same quarter last year. Analysts anticipate that Brown & Brown, Inc. will post 4.5 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, August 12th. Brown & Brown's dividend payout ratio (DPR) is 20.82%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Brown & Brown from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. increased their target price on shares of Brown & Brown from $78.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods lifted their price target on shares of Brown & Brown from $72.00 to $74.00 and gave the stock a "market perform" rating in a report on Wednesday, July 8th. Raymond James Financial reiterated an "outperform" rating on shares of Brown & Brown in a research note on Friday, June 26th. Finally, Truist Financial set a $90.00 target price on Brown & Brown in a research report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $76.60.

Brown & Brown Profile

Brown & Brown, Inc is an independent insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk by providing insurance products and related advisory services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialty insurance programs. Brown & Brown also operates wholesale brokerage and managing general agency businesses, which provide specialized coverage and market access to retail insurance agents and brokers.

Founded in 1939 by J.

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