Numerai GP LLC purchased a new stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,723 shares of the financial services provider's stock, valued at approximately $584,000.
Other hedge funds have also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp increased its holdings in shares of Brown & Brown by 1.2% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 146,411 shares of the financial services provider's stock worth $14,937,000 after buying an additional 1,731 shares in the last quarter. Millennium Management LLC boosted its stake in Brown & Brown by 9.2% in the fourth quarter. Millennium Management LLC now owns 627,813 shares of the financial services provider's stock worth $64,049,000 after purchasing an additional 53,080 shares in the last quarter. MJP Associates Inc. ADV bought a new stake in shares of Brown & Brown during the fourth quarter worth $542,000. Laird Norton Wetherby Wealth Management LLC increased its stake in shares of Brown & Brown by 16.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 5,153 shares of the financial services provider's stock valued at $526,000 after buying an additional 723 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Brown & Brown by 2.2% during the 4th quarter. Janus Henderson Group PLC now owns 25,739 shares of the financial services provider's stock worth $2,626,000 after buying an additional 544 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have weighed in on BRO shares. The Goldman Sachs Group downgraded shares of Brown & Brown from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $126.00 to $119.00 in a research note on Tuesday, May 13th. Bank of America increased their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Edward Jones started coverage on Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating on the stock. Wells Fargo & Company lifted their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, Truist Financial lowered their price target on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $116.85.
Check Out Our Latest Report on BRO
Brown & Brown Stock Up 0.2%
Shares of BRO traded up $0.18 on Monday, hitting $111.95. The company's stock had a trading volume of 1,505,886 shares, compared to its average volume of 1,475,039. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $32.09 billion, a price-to-earnings ratio of 32.36, a P/E/G ratio of 2.93 and a beta of 0.87. The firm's fifty day moving average price is $116.27 and its 200-day moving average price is $111.09. Brown & Brown, Inc. has a fifty-two week low of $85.97 and a fifty-two week high of $125.68.
Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 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 analyst estimates of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company's revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. On average, equities research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.
Brown & Brown Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Monday, May 12th. Brown & Brown's payout ratio is 16.71%.
About Brown & Brown
(
Free Report)
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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