Nomura Holdings Inc. Has $1.99 Million Position in Brown & Brown, Inc. (NYSE:BRO)

Nomura Holdings Inc. boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 49.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,460 shares of the financial services provider's stock after buying an additional 6,474 shares during the period. Nomura Holdings Inc.'s holdings in Brown & Brown were worth $1,985,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BRO. Barclays PLC boosted its stake in Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock worth $255,537,000 after buying an additional 371,980 shares in the last quarter. Wedmont Private Capital boosted its stake in Brown & Brown by 6.8% during the fourth quarter. Wedmont Private Capital now owns 2,475 shares of the financial services provider's stock worth $252,000 after buying an additional 157 shares in the last quarter. Kathmere Capital Management LLC boosted its stake in Brown & Brown by 9.4% during the fourth quarter. Kathmere Capital Management LLC now owns 2,662 shares of the financial services provider's stock worth $272,000 after buying an additional 228 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Brown & Brown by 2.9% during the fourth quarter. Park Avenue Securities LLC now owns 8,922 shares of the financial services provider's stock valued at $910,000 after acquiring an additional 252 shares during the period. Finally, Fermata Advisors LLC bought a new position in shares of Brown & Brown during the fourth quarter valued at $369,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BRO. Barclays lifted their price objective on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. The Goldman Sachs Group cut Brown & Brown from a "buy" rating to a "neutral" rating and cut their price objective for the company from $126.00 to $119.00 in a report on Tuesday. UBS Group lifted their price objective on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. Bank of America lifted their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, Truist Financial cut their price objective on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. One 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. According to MarketBeat, Brown & Brown presently has an average rating of "Hold" and a consensus price target of $116.85.

Brown & Brown Stock Performance

Shares of NYSE:BRO opened at $111.75 on Friday. The stock has a market capitalization of $32.03 billion, a P/E ratio of 32.30, a P/E/G ratio of 2.93 and a beta of 0.87. Brown & Brown, Inc. has a 1-year low of $85.97 and a 1-year high of $125.68. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $116.27 and a two-hundred day moving average price of $111.01.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 earnings per share. Equities analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown's payout ratio is currently 16.71%.

Brown & Brown Company 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.

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