Edmond DE Rothschild Holding S.A. Invests $337,000 in Brown & Brown, Inc. (NYSE:BRO)

Edmond DE Rothschild Holding S.A. acquired a new stake in Brown & Brown, Inc. (NYSE:BROFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 4,740 shares of the financial services provider’s stock, valued at approximately $337,000.

A number of other institutional investors also recently made changes to their positions in the business. Legacy Capital Wealth Partners LLC boosted its stake in shares of Brown & Brown by 2.6% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 6,316 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 158 shares in the last quarter. Tributary Capital Management LLC boosted its stake in shares of Brown & Brown by 1.1% in the 4th quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider’s stock valued at $1,186,000 after purchasing an additional 174 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Brown & Brown by 22.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,008 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 187 shares in the last quarter. Summit Financial LLC boosted its stake in shares of Brown & Brown by 6.0% in the 3rd quarter. Summit Financial LLC now owns 3,395 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 191 shares in the last quarter. Finally, Xcel Wealth Management LLC boosted its position in Brown & Brown by 3.2% during the 4th quarter. Xcel Wealth Management LLC now owns 6,389 shares of the financial services provider’s stock valued at $454,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BRO. Bank of America raised shares of Brown & Brown from an “underperform” rating to a “neutral” rating and increased their price target for the company from $91.00 to $101.00 in a research report on Wednesday, May 22nd. Truist Financial increased their price target on shares of Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Citigroup increased their price target on shares of Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Royal Bank of Canada increased their price target on shares of Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Finally, StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $88.80.

Get Our Latest Stock Report on BRO

Brown & Brown Stock Down 1.4 %

Shares of Brown & Brown stock opened at $86.33 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97. The company has a 50-day moving average of $85.28 and a 200 day moving average of $79.91. The firm has a market cap of $24.63 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.30 and a beta of 0.79. Brown & Brown, Inc. has a 1 year low of $61.71 and a 1 year high of $91.70.

Brown & Brown (NYSE:BROGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.07. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. Brown & Brown’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. As a group, sell-side analysts anticipate that Brown & Brown, Inc. will post 3.61 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.52 annualized dividend and a dividend yield of 0.60%. Brown & Brown’s payout ratio is 16.00%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction dated 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 directly owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.02% of the stock is owned by company insiders.

Brown & Brown Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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