State of Tennessee Department of Treasury Increases Holdings in Brown & Brown, Inc. (NYSE:BRO)

State of Tennessee Department of Treasury grew its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 30.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 112,493 shares of the financial services provider's stock after acquiring an additional 26,520 shares during the quarter. State of Tennessee Department of Treasury's holdings in Brown & Brown were worth $11,477,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BRO. Tower Research Capital LLC TRC increased its stake in shares of Brown & Brown by 119.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,670 shares of the financial services provider's stock valued at $1,701,000 after purchasing an additional 9,086 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Brown & Brown by 3.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,611,286 shares of the financial services provider's stock valued at $164,383,000 after buying an additional 46,912 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in shares of Brown & Brown in the 4th quarter valued at about $1,816,000. MetLife Investment Management LLC boosted its holdings in shares of Brown & Brown by 1.6% during the fourth quarter. MetLife Investment Management LLC now owns 67,474 shares of the financial services provider's stock worth $6,884,000 after purchasing an additional 1,093 shares during the period. Finally, Natixis grew its position in Brown & Brown by 1,185.4% during the fourth quarter. Natixis now owns 29,024 shares of the financial services provider's stock valued at $2,961,000 after purchasing an additional 26,766 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Price Performance

Shares of BRO traded down $7.81 during midday trading on Tuesday, hitting $107.07. The company's stock had a trading volume of 1,255,030 shares, compared to its average volume of 1,441,484. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a one year low of $80.91 and a one year high of $125.68. The stock has a market capitalization of $30.61 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The company's fifty day simple moving average is $118.08 and its two-hundred day simple moving average is $110.62.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 earnings per share. As a group, equities analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared 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 0.56%. Brown & Brown's dividend payout ratio (DPR) is currently 17.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Truist Financial lifted their price objective on Brown & Brown from $118.00 to $138.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Jefferies Financial Group increased their target price on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Edward Jones initiated coverage on Brown & Brown in a report on Wednesday, April 16th. They set a "buy" rating on the stock. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have given 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 a consensus target price of $117.50.

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.