Strategy Asset Managers LLC Purchases 5,233 Shares of Brown & Brown, Inc. (NYSE:BRO)

Key Points

• Strategy Asset Managers LLC significantly increased its stake in Brown & Brown, Inc. by 88.7%, acquiring an additional 5,233 shares, bringing their total holdings to 11,135 shares valued at approximately $1.385 million.
• Analysts have mixed views on Brown & Brown, with one rating it as a sell, seven as a hold, and seven giving it a buy rating, reflecting a consensus rating of "Hold" with an average price target of $114.69.
• Brown & Brown reported earnings of $1.03 per share for the latest quarter, exceeding the consensus estimate of $0.99 and marking a 9.1% increase in year-over-year revenue.

Strategy Asset Managers LLC raised its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 88.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,135 shares of the financial services provider's stock after acquiring an additional 5,233 shares during the quarter. Strategy Asset Managers LLC's holdings in Brown & Brown were worth $1,385,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of BRO. Vanguard Group Inc. grew its holdings in Brown & Brown by 1.9% in the first quarter. Vanguard Group Inc. now owns 30,501,119 shares of the financial services provider's stock worth $3,794,339,000 after purchasing an additional 560,980 shares during the period. Principal Financial Group Inc. boosted its holdings in Brown & Brown by 0.3% during the first quarter. Principal Financial Group Inc. now owns 12,940,046 shares of the financial services provider's stock worth $1,609,742,000 after purchasing an additional 38,078 shares during the last quarter. Capital World Investors increased its stake in Brown & Brown by 15.6% in the 4th quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider's stock valued at $428,043,000 after buying an additional 566,116 shares during the last quarter. Invesco Ltd. lifted its position in shares of Brown & Brown by 11.4% during the 4th quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider's stock worth $388,045,000 after buying an additional 388,411 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Brown & Brown by 2.0% during the 4th quarter. Royal Bank of Canada now owns 2,882,426 shares of the financial services provider's stock worth $294,065,000 after buying an additional 56,033 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BRO shares. Bank of America upgraded shares of Brown & Brown from a "neutral" rating to a "buy" rating and raised their price target for the stock from $126.00 to $130.00 in a research note on Wednesday, July 30th. Edward Jones initiated coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating for the company. Truist Financial set a $120.00 price objective on shares of Brown & Brown in a research note on Wednesday, July 30th. Argus lowered shares of Brown & Brown from a "buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, Jefferies Financial Group lifted their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Brown & Brown has a consensus rating of "Hold" and an average price target of $114.69.

Brown & Brown Stock Performance

Brown & Brown stock opened at $91.73 on Wednesday. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $30.25 billion, a PE ratio of 26.43, a P/E/G ratio of 2.11 and a beta of 0.78. The firm has a fifty day simple moving average of $105.87 and a two-hundred day simple moving average of $111.05. Brown & Brown, Inc. has a twelve month low of $90.55 and a twelve month high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 earnings per share. Research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 13th will be given a $0.15 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.7%. Brown & Brown's payout ratio is presently 17.29%.

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.

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