Forsta AP Fonden Grows Holdings in Brown & Brown, Inc. $BRO

Forsta AP Fonden boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.8% in the second quarter, HoldingsChannel reports. The fund owned 45,800 shares of the financial services provider’s stock after acquiring an additional 2,500 shares during the period. Forsta AP Fonden’s holdings in Brown & Brown were worth $5,078,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. TimesSquare Capital Management LLC lifted its holdings in shares of Brown & Brown by 25.2% during the second quarter. TimesSquare Capital Management LLC now owns 449,542 shares of the financial services provider’s stock valued at $49,841,000 after purchasing an additional 90,580 shares during the last quarter. KBC Group NV raised its stake in Brown & Brown by 20.5% during the second quarter. KBC Group NV now owns 41,584 shares of the financial services provider’s stock valued at $4,611,000 after buying an additional 7,071 shares during the last quarter. National Pension Service boosted its holdings in Brown & Brown by 0.8% in the second quarter. National Pension Service now owns 344,237 shares of the financial services provider’s stock worth $38,166,000 after acquiring an additional 2,724 shares in the last quarter. Fairbanks Capital Management Inc. grew its stake in shares of Brown & Brown by 6.7% in the second quarter. Fairbanks Capital Management Inc. now owns 14,885 shares of the financial services provider’s stock worth $1,650,000 after acquiring an additional 938 shares during the last quarter. Finally, Boston Partners bought a new position in shares of Brown & Brown during the second quarter valued at $171,163,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.8%

Brown & Brown stock opened at $80.70 on Friday. Brown & Brown, Inc. has a one year low of $76.17 and a one year high of $125.68. The stock has a fifty day moving average of $88.74 and a 200 day moving average of $98.95. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.72 and a current ratio of 2.10. The stock has a market cap of $27.55 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the company posted $0.91 EPS. The business’s quarterly revenue was up 35.4% compared to the same quarter last year. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 5th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s payout ratio is presently 19.76%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BRO shares. Argus reaffirmed a “hold” rating on shares of Brown & Brown in a research report on Thursday, July 31st. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research note on Monday, November 3rd. Bank of America reissued a “neutral” rating and set a $97.00 price target (down previously from $135.00) on shares of Brown & Brown in a research report on Monday, November 3rd. Truist Financial cut their target price on Brown & Brown from $120.00 to $114.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Finally, Barclays decreased their price target on Brown & Brown from $108.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average target price of $105.23.

About Brown & Brown

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.