Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 96,091 shares of the financial services provider’s stock after buying an additional 3,600 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Brown & Brown were worth $9,955,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund grew its position in Brown & Brown by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock valued at $1,819,000 after acquiring an additional 100 shares during the period. Trust Point Inc. grew its position in Brown & Brown by 4.3% during the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 103 shares during the period. Creative Planning grew its position in Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after acquiring an additional 112 shares during the period. Anchor Investment Management LLC grew its position in Brown & Brown by 4.0% during the second quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 125 shares during the period. Finally, Copperwynd Financial LLC grew its position in Brown & Brown by 4.8% during the second quarter. Copperwynd Financial LLC now owns 2,772 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 126 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BRO has been the subject of several analyst reports. Bank of America upped their target price on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Truist Financial upped their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price target on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods upped their price objective on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average target price of $106.50.

Brown & Brown Trading Down 0.4 %

Shares of NYSE:BRO opened at $110.35 on Friday. The company has a market cap of $31.56 billion, a P/E ratio of 30.07, a P/E/G ratio of 2.43 and a beta of 0.82. The stock’s 50-day moving average is $104.61 and its 200-day moving average is $96.65. Brown & Brown, Inc. has a 52-week low of $69.13 and a 52-week high of $114.08. 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 (NYSE:BRO) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business posted $0.71 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts predict that Brown & Brown, Inc. will post 3.73 earnings per share for the current year.

Brown & Brown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.54%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Wednesday, November 6th. Brown & Brown’s payout ratio is currently 14.17%.

Insider Activity at Brown & Brown

In other 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 document filed with the SEC, which can be accessed through this link. Corporate insiders own 16.43% of the company’s stock.

About Brown & Brown

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.