Corebridge Financial Inc. Acquires 133 Shares of Brown & Brown, Inc. (NYSE:BRO)

Corebridge Financial Inc. raised its holdings in Brown & Brown, Inc. (NYSE:BRO) by 0.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,370 shares of the financial services provider’s stock after acquiring an additional 133 shares during the quarter. Corebridge Financial Inc.’s holdings in Brown & Brown were worth $6,261,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Brown & Brown in the third quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Brown & Brown in the 4th quarter valued at about $28,000. Y.D. More Investments Ltd grew its stake in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 162 shares in the last quarter. R Squared Ltd purchased a new position in shares of Brown & Brown during the fourth quarter worth approximately $31,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Brown & Brown during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

BRO has been the topic of several research analyst reports. 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 research note on Friday, January 10th. Royal Bank of Canada raised their price target on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Morgan Stanley restated an “equal weight” rating and issued a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. Bank of America increased their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $112.67.

Brown & Brown Trading Up 0.1 %

NYSE BRO opened at $122.97 on Friday. The firm has a market cap of $35.16 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $123.24. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average price of $113.33 and a 200 day moving average price of $108.31.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. As a group, sell-side analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Brown & Brown Company 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.