Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,807,847 shares of the financial services provider’s stock after acquiring an additional 2,868 shares during the period. Brown & Brown accounts for 0.7% of Principal Financial Group Inc.’s holdings, making the stock its 26th biggest position. Principal Financial Group Inc.’s holdings in Brown & Brown were worth $1,326,893,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norden Group LLC raised its stake in shares of Brown & Brown by 71.2% during the 1st quarter. Norden Group LLC now owns 6,214 shares of the financial services provider’s stock worth $544,000 after buying an additional 2,584 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Brown & Brown by 3.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,146 shares of the financial services provider’s stock valued at $3,339,000 after acquiring an additional 1,368 shares in the last quarter. Nordea Investment Management AB raised its position in Brown & Brown by 4.0% during the first quarter. Nordea Investment Management AB now owns 20,102 shares of the financial services provider’s stock worth $1,767,000 after acquiring an additional 770 shares during the last quarter. ORG Partners LLC lifted its holdings in shares of Brown & Brown by 111.0% in the first quarter. ORG Partners LLC now owns 633 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 333 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Brown & Brown by 9.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 16,718 shares of the financial services provider’s stock valued at $1,464,000 after purchasing an additional 1,416 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group upped their target price on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Truist Financial boosted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Finally, Raymond James lifted their price objective on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $106.50.

Brown & Brown Stock Up 3.1 %

BRO opened at $110.84 on Thursday. The company has a market cap of $31.69 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. Brown & Brown, Inc. has a 1 year low of $69.13 and a 1 year high of $114.08. The firm has a 50 day moving average price of $104.49 and a 200 day moving average price of $96.56.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $0.71 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Brown & Brown, Inc. will post 3.73 earnings per share for the current year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is 14.17%.

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.