JPMorgan Chase & Co. decreased its holdings in shares of Brown & Brown, Inc. (NYSE: BRO – Get Rating) by 29.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,591 shares of the financial services provider’s stock after selling 103,304 shares during the quarter. JPMorgan Chase & Co. owned 0.09% of Brown & Brown worth $ 17,331,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Brown & Brown by 1.3% during the fourth quarter. Principal Financial Group Inc. now owns 8,130,991 shares of the financial services provider’s stock valued at $ 566,541,000 after buying an additional 102,269 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Brown & Brown in the fourth quarter valued at about $ 449,898,000. NN Investment Partners Holdings NV grew its stake in Brown & Brown by 0.6% in the fourth quarter. NN Investment Partners Holdings NV now owns 3,661,847 shares of the financial services provider’s stock valued at $ 257,355,000 after purchasing an additional 20,489 shares in the last quarter. Invesco Ltd. grew its stake in Brown & Brown by 145.5% in the third quarter. Invesco Ltd. now owns 2,130,779 shares of the financial services provider’s stock valued at $ 118,152,000 after purchasing an additional 1,262,929 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Brown & Brown by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,593,419 shares of the financial services provider’s stock valued at $ 88,365,000 after purchasing an additional 40,437 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company stock.
In other news, Director Lawrence L. Gellerstedt III purchased 1,800 shares of the business’s stock in a transaction on Thursday, May 19th. The stock was purchased at an average price of $ 54.95 per share, with a total value of $ 98,910.00. Following the acquisition, the director now directly owns 12,884 shares in the company, valued at approximately $ 707,975.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Hugh M. Brown purchased 824 shares of the business’s stock in a transaction on Thursday, May 5th. The stock was purchased at an average cost of $ 59.66 per share, with a total value of $ 49,159.84. Following the acquisition, the director now owns 49,452 shares in the company, valued at $ 2,950,306.32. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 4,294 shares of company stock valued at $ 248,253. Insiders own 16.67% of the company stock.
NYSE BRO opened at $ 59.37 on Wednesday. Brown & Brown, Inc. has a twelve month low of $ 51.47 and a twelve month high of $ 74.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.80 and a current ratio of 3.80. The stock has a market capitalization of $ 16.76 billion, a PE ratio of 27.74 and a beta of 0.81. The stock has a 50-day simple moving average of $ 64.76 and a 200 day simple moving average of $ 65.96.
Brown & Brown (NYSE: BRO – Get Rating) last posted its quarterly earnings data on Monday, April 25th. The financial services provider reported $ 0.78 earnings per share for the quarter, topping the consensus estimate of $ 0.75 by $ 0.03. Brown & Brown had a return on equity of 15.53% and a net margin of 19.35%. The business had revenue of $ 904.70 million during the quarter, compared to analysts’ expectations of $ 892.56 million. During the same quarter in the previous year, the firm earned $ 0.70 EPS. As a group, equities research analysts forecast that Brown & Brown, Inc. will post 2.28 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 18th. Investors of record on Monday, May 9th were given a dividend of $ 0.102 per share. The ex-dividend date of this dividend was Friday, May 6th. This represents a $ 0.41 annualized dividend and a dividend yield of 0.69%. Brown & Brown’s dividend payout ratio is presently 19.16%.
A number of research analysts have commented on the company. Truist Financial boosted their target price on Brown & Brown from $ 77.00 to $ 82.00 in a research note on Thursday, April 21st. UBS Group assumed coverage on Brown & Brown in a research note on Monday, April 18th. They set a “neutral” rating and a $ 76.00 price target for the company. StockNews.com assumed coverage on Brown & Brown in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Morgan Stanley decreased their price target on Brown & Brown from $ 70.00 to $ 64.00 and set an “equal weight” rating for the company in a research note on Monday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Brown & Brown has an average rating of “Hold” and an average target price of $ 70.44.
About Brown & Brown: (Get Rating)
Brown & Brown, Inc markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services.
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