OMERS ADMINISTRATION Corp Invests $848,000 in Brown & Brown, Inc. $BRO

OMERS ADMINISTRATION Corp bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,212 shares of the financial services provider’s stock, valued at approximately $848,000.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in Brown & Brown by 38.3% in the 1st quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock worth $4,132,000 after acquiring an additional 9,264 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Brown & Brown by 5.2% during the first quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock valued at $1,387,000 after acquiring an additional 547 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Brown & Brown by 1,824.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 53,103 shares of the financial services provider’s stock valued at $5,888,000 after acquiring an additional 50,344 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Brown & Brown by 27.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 223 shares in the last quarter. Finally, Cary Street Partners Financial LLC boosted its holdings in shares of Brown & Brown by 60.9% in the second quarter. Cary Street Partners Financial LLC now owns 933 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 353 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BRO has been the topic of several research reports. Truist Financial set a $90.00 price objective on Brown & Brown in a report on Wednesday, July 29th. BMO Capital Markets raised their price target on Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Barclays lifted their price objective on Brown & Brown from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Wells Fargo & Company lowered their price objective on shares of Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating for the company in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group increased their target price on shares of Brown & Brown from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $76.80.

Brown & Brown Stock Down 2.0%

BRO stock opened at $71.35 on Friday. The firm has a 50 day moving average of $68.77 and a 200 day moving average of $65.75. The stock has a market capitalization of $23.88 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. Brown & Brown, Inc. has a 52 week low of $53.81 and a 52 week high of $97.49.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. Sell-side analysts forecast that Brown & Brown, Inc. will post 4.5 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Brown & Brown’s payout ratio is 20.82%.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.