California Public Employees Retirement System Has $106.70 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

California Public Employees Retirement System decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,500,437 shares of the financial services provider's stock after selling 15,848 shares during the period. California Public Employees Retirement System owned 0.53% of Brown & Brown worth $106,696,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in Brown & Brown by 1,861.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 810,359 shares of the financial services provider's stock worth $56,595,000 after purchasing an additional 769,051 shares in the last quarter. FMR LLC boosted its stake in Brown & Brown by 81.9% in the 3rd quarter. FMR LLC now owns 1,021,668 shares of the financial services provider's stock worth $71,353,000 after purchasing an additional 460,068 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Brown & Brown by 1,831.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 397,763 shares of the financial services provider's stock worth $27,780,000 after purchasing an additional 377,173 shares in the last quarter. Royal Bank of Canada boosted its stake in Brown & Brown by 15.9% in the 3rd quarter. Royal Bank of Canada now owns 1,715,645 shares of the financial services provider's stock worth $119,821,000 after purchasing an additional 235,001 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Brown & Brown by 145.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 396,141 shares of the financial services provider's stock worth $27,666,000 after purchasing an additional 234,853 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Performance

Shares of BRO traded down $0.80 during trading hours on Wednesday, hitting $82.13. The stock had a trading volume of 1,518,108 shares, compared to its average volume of 1,342,340. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a 50-day moving average price of $84.30 and a 200 day moving average price of $76.99. Brown & Brown, Inc. has a fifty-two week low of $60.00 and a fifty-two week high of $87.99. The firm has a market capitalization of $23.43 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 2.48 and a beta of 0.78.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.07. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.82%. The business's revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. As a group, research analysts anticipate that Brown & Brown, Inc. will post 3.55 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown's payout ratio is presently 16.00%.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of recent analyst reports. Truist Financial lifted their target price on shares of Brown & Brown from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Wednesday. UBS Group lifted their price objective on shares of Brown & Brown from $75.00 to $81.00 and gave the company a "neutral" rating in a research note on Monday, January 29th. Citigroup lifted their price objective on shares of Brown & Brown from $89.00 to $94.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. Jefferies Financial Group cut shares of Brown & Brown from a "buy" rating to a "hold" rating and decreased their price objective for the company from $85.00 to $78.00 in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada lifted their price objective on shares of Brown & Brown from $87.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $87.10.

Insider Buying and Selling

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the company's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the sale, the chairman now owns 37,460,605 shares of the company's stock, valued at $3,220,113,605.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 16.43% of the stock is owned by insiders.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.