Rafferty Asset Management LLC Acquires 3,466 Shares of Brown & Brown, Inc. (NYSE:BRO)

Rafferty Asset Management LLC lifted its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 83,738 shares of the financial services provider's stock after buying an additional 3,466 shares during the quarter. Rafferty Asset Management LLC's holdings in Brown & Brown were worth $8,543,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in Brown & Brown during the fourth quarter worth approximately $313,412,000. First Trust Advisors LP boosted its position in Brown & Brown by 626.6% during the fourth quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock worth $239,751,000 after purchasing an additional 2,026,589 shares during the period. Madison Investment Advisors LLC bought a new stake in Brown & Brown during the fourth quarter worth approximately $198,031,000. Vanguard Group Inc. boosted its position in Brown & Brown by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after purchasing an additional 1,335,964 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Brown & Brown by 11,337.8% during the fourth quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider's stock worth $1,109,000 after buying an additional 1,099,199 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Performance

Shares of NYSE BRO traded up $0.50 during trading hours on Tuesday, reaching $112.50. The stock had a trading volume of 1,928,266 shares, compared to its average volume of 1,478,683. The business's fifty day moving average is $116.05 and its two-hundred day moving average is $111.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The company has a market cap of $32.24 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 2.93 and a beta of 0.87. Brown & Brown, Inc. has a twelve month low of $85.97 and a twelve month high of $125.68.

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

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.53%. Brown & Brown's dividend payout ratio is currently 16.71%.

Analyst Ratings Changes

BRO has been the subject of a number of research analyst reports. Bank of America upped their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. The Goldman Sachs Group lowered Brown & Brown from a "buy" rating to a "neutral" rating and cut their price target for the stock from $126.00 to $119.00 in a report on Tuesday, May 13th. Truist Financial cut their price target on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. UBS Group upped their price target on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, April 9th. Finally, Wells Fargo & Company upped their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Brown & Brown presently has a consensus rating of "Hold" and a consensus target price of $116.85.

Brown & Brown 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.