Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Trust Point Inc.

Trust Point Inc. boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 156.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,451 shares of the financial services provider’s stock after buying an additional 3,932 shares during the quarter. Trust Point Inc.’s holdings in Brown & Brown were worth $658,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI increased its position in shares of Brown & Brown by 258.0% during the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock worth $66,985,000 after acquiring an additional 465,988 shares during the period. Barclays PLC grew its stake in Brown & Brown by 17.8% during the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after purchasing an additional 371,980 shares in the last quarter. FMR LLC increased its holdings in Brown & Brown by 42.4% during the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after purchasing an additional 330,661 shares during the period. Los Angeles Capital Management LLC raised its position in Brown & Brown by 129.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider’s stock valued at $56,670,000 after purchasing an additional 308,458 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Brown & Brown by 652.8% in the 3rd quarter. Tidal Investments LLC now owns 259,205 shares of the financial services provider’s stock valued at $26,854,000 after buying an additional 224,772 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BRO. Truist Financial raised their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Bank of America boosted their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Barclays raised their price target on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. One investment 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 presently has an average rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $105.99 on Wednesday. The stock has a market cap of $30.31 billion, a P/E ratio of 30.63, a P/E/G ratio of 2.75 and a beta of 0.86. Brown & Brown, Inc. has a twelve month low of $77.12 and a twelve month high of $114.15. The stock has a 50 day moving average of $104.98 and a two-hundred day moving average of $104.50. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, research analysts forecast that Brown & Brown, Inc. will post 4.15 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.57%. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

About Brown & Brown

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.