Corient Private Wealth LLC Has $42.03 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Corient Private Wealth LLC increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 411,950 shares of the financial services provider’s stock after purchasing an additional 26,065 shares during the quarter. Corient Private Wealth LLC owned approximately 0.14% of Brown & Brown worth $42,027,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Brown & Brown by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock worth $1,316,259,000 after buying an additional 94,121 shares in the last quarter. Barclays PLC raised its holdings in shares of Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after acquiring an additional 371,980 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in Brown & Brown during the fourth quarter valued at $198,031,000. Charles Schwab Investment Management Inc. grew its stake in Brown & Brown by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock valued at $138,394,000 after purchasing an additional 40,881 shares in the last quarter. Finally, FMR LLC increased its position in Brown & Brown by 42.4% in 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 last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BRO. Royal Bank of Canada boosted 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. Barclays boosted their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Bank of America raised their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Morgan Stanley began coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective for the company. Finally, Keefe, Bruyette & Woods cut their target price 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 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. Based on data from MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and an average price target of $113.17.

Brown & Brown Trading Up 1.6 %

Brown & Brown stock opened at $120.08 on Tuesday. The business’s 50-day simple moving average is $109.79 and its 200-day simple moving average is $107.20. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $121.25. The firm has a market capitalization of $34.33 billion, a PE ratio of 34.70, a PEG ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 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%. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.50%. Brown & Brown’s dividend payout ratio is 17.34%.

Brown & Brown 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.