Allspring Global Investments Holdings LLC Acquires 6,876 Shares of Brown & Brown, Inc. (NYSE:BRO)

Allspring Global Investments Holdings LLC increased its stake in Brown & Brown, Inc. (NYSE:BRO) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,922,301 shares of the financial services provider’s stock after purchasing an additional 6,876 shares during the quarter. Brown & Brown makes up approximately 0.6% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 24th biggest position. Allspring Global Investments Holdings LLC’s holdings in Brown & Brown were worth $394,384,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BRO. Brooklyn Investment Group purchased a new stake in Brown & Brown in the third quarter worth about $26,000. ST Germain D J Co. Inc. grew its stake in shares of Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Brown & Brown in the 3rd quarter worth approximately $29,000. Y.D. More Investments Ltd raised its stake in Brown & Brown by 122.7% during 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 during the period. Finally, R Squared Ltd purchased a new position in Brown & Brown during the fourth quarter valued at approximately $31,000. 71.01% of the stock is owned by institutional investors.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $108.78 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.73. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $114.15. The stock has a market capitalization of $31.11 billion, a P/E ratio of 31.44, a PEG ratio of 2.84 and a beta of 0.86. The business has a 50 day simple moving average of $104.54 and a two-hundred day simple moving average of $104.89.

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

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Bank of America increased their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods decreased their target price 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. Truist Financial upped their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays increased their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Finally, Wells Fargo & Company boosted their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and an average target price of $113.17.

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.