Price Capital Management Inc. Makes New $1.47 Million Investment in Brown & Brown, Inc. (NYSE:BRO)

Price Capital Management Inc. purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,840 shares of the financial services provider's stock, valued at approximately $1,473,000. Brown & Brown makes up approximately 3.7% of Price Capital Management Inc.'s holdings, making the stock its 17th largest holding.

A number of other institutional investors have also recently bought and sold shares of the business. Optimum Investment Advisors acquired a new stake in shares of Brown & Brown in the 1st quarter valued at $31,000. Johnson Financial Group Inc. increased its holdings in shares of 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. increased its holdings in shares of Brown & Brown by 581.8% during the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock worth $31,000 after purchasing an additional 256 shares during the period. Garde Capital Inc. bought a new position in shares of Brown & Brown in the first quarter worth $46,000. Finally, GW&K Investment Management LLC increased its position in shares of Brown & Brown by 104.4% in the first quarter. GW&K Investment Management LLC now owns 419 shares of the financial services provider's stock worth $52,000 after purchasing an additional 214 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BRO shares. Barclays decreased their target price on Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. UBS Group lifted their price target on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, April 9th. Truist Financial cut their price objective on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group lifted their price objective on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on Brown & Brown from $102.00 to $104.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $118.23.

Brown & Brown Stock Performance

Shares of NYSE BRO traded up $0.60 during trading on Friday, reaching $103.38. 3,136,214 shares of the stock traded hands, compared to its average volume of 2,403,424. Brown & Brown, Inc. has a 52-week low of $97.61 and a 52-week high of $125.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.52 and a quick ratio of 2.52. The company has a 50-day moving average of $108.51 and a 200-day moving average of $111.46. The stock has a market capitalization of $29.64 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 2.26 and a beta of 0.82.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The business's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS. Analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Wednesday, August 13th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.58%. 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.