Russell Investments Group Ltd. Raises Stake in Brown & Brown, Inc. $BRO

Russell Investments Group Ltd. raised its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 81.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 280,955 shares of the financial services provider’s stock after acquiring an additional 126,113 shares during the period. Russell Investments Group Ltd. owned about 0.08% of Brown & Brown worth $26,344,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Brown & Brown by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider’s stock worth $3,501,264,000 after buying an additional 1,705,570 shares during the period. Principal Financial Group Inc. boosted its position in Brown & Brown by 13.4% during the 3rd quarter. Principal Financial Group Inc. now owns 15,416,190 shares of the financial services provider’s stock valued at $1,445,888,000 after acquiring an additional 1,821,229 shares in the last quarter. State Street Corp grew its holdings in shares of Brown & Brown by 11.3% during the 2nd quarter. State Street Corp now owns 12,460,821 shares of the financial services provider’s stock worth $1,381,531,000 after acquiring an additional 1,262,139 shares during the period. Geode Capital Management LLC grew its holdings in shares of Brown & Brown by 16.6% during the 2nd quarter. Geode Capital Management LLC now owns 7,369,576 shares of the financial services provider’s stock worth $813,624,000 after acquiring an additional 1,050,350 shares during the period. Finally, Invesco Ltd. raised its position in shares of Brown & Brown by 1.1% in the 2nd quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock worth $461,925,000 after acquiring an additional 46,235 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BRO has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upgraded Brown & Brown from an “underperform” rating to a “market perform” rating and lowered their target price for the company from $80.00 to $73.00 in a research note on Thursday, January 29th. Truist Financial reduced their price target on Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Argus upgraded Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. Wells Fargo & Company lowered their price objective on Brown & Brown from $82.00 to $78.00 and set an “equal weight” rating for the company in a research report on Friday, February 13th. Finally, Wolfe Research assumed coverage on shares of Brown & Brown in a report on Thursday, November 20th. They set a “peer perform” rating on the stock. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $90.29.

Brown & Brown Stock Performance

Brown & Brown stock opened at $67.63 on Friday. Brown & Brown, Inc. has a twelve month low of $65.68 and a twelve month high of $125.68. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $23.02 billion, a P/E ratio of 21.14, a PEG ratio of 1.83 and a beta of 0.79. The stock’s 50 day moving average is $73.65 and its 200 day moving average is $81.97.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. On average, equities research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were issued a dividend of $0.165 per share. The ex-dividend date was Wednesday, February 4th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio (DPR) is presently 20.63%.

Brown & Brown Company Profile

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.