Pictet North America Advisors SA Raises Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Pictet North America Advisors SA grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,094 shares of the financial services provider's stock after purchasing an additional 7,172 shares during the quarter. Brown & Brown makes up 1.2% of Pictet North America Advisors SA's investment portfolio, making the stock its 25th largest holding. Pictet North America Advisors SA's holdings in Brown & Brown were worth $12,452,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BRO. Bank Pictet & Cie Europe AG purchased a new stake in Brown & Brown in the 4th quarter worth about $907,000. Proficio Capital Partners LLC increased its holdings in Brown & Brown by 11,337.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider's stock worth $1,109,000 after acquiring an additional 1,099,199 shares during the last quarter. Metis Global Partners LLC increased its holdings in Brown & Brown by 4.0% in the 4th quarter. Metis Global Partners LLC now owns 15,662 shares of the financial services provider's stock worth $1,598,000 after acquiring an additional 598 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Brown & Brown by 34.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 811 shares of the financial services provider's stock worth $83,000 after acquiring an additional 207 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Brown & Brown in the 4th quarter worth about $28,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

Shares of BRO traded up $0.07 during trading hours on Thursday, reaching $107.88. 2,979,841 shares of the company's stock traded hands, compared to its average volume of 1,845,607. The stock has a market cap of $30.93 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 2.36 and a beta of 0.82. 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 firm's 50 day simple moving average is $110.04 and its 200-day simple moving average is $111.13. Brown & Brown, Inc. has a 12 month low of $89.25 and a 12 month high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The business 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 posted $1.14 earnings per share. Brown & Brown's quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.56%. Brown & Brown's dividend payout ratio (DPR) is presently 16.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Brown & Brown from $100.00 to $102.00 and gave the stock an "underperform" rating in a report on Friday, June 13th. Barclays lifted their price objective on Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Jefferies Financial Group raised their target price on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Wells Fargo & Company restated an "overweight" rating and issued a $127.00 target price (up previously from $125.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Finally, Truist Financial cut their target price on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and a consensus price target of $118.85.

Brown & Brown Profile

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.