Numerai GP LLC Makes New Investment in Brown & Brown, Inc. (NYSE:BRO)

Numerai GP LLC acquired a new position in Brown & Brown, Inc. (NYSE:BRO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,723 shares of the financial services provider’s stock, valued at approximately $584,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after buying an additional 371,980 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Brown & Brown by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,664 shares of the financial services provider’s stock valued at $476,000 after buying an additional 113 shares during the last quarter. Czech National Bank lifted its stake in Brown & Brown by 6.7% in the fourth quarter. Czech National Bank now owns 51,462 shares of the financial services provider’s stock valued at $5,250,000 after buying an additional 3,231 shares during the last quarter. Wedmont Private Capital lifted its stake in Brown & Brown by 6.8% in the fourth quarter. Wedmont Private Capital now owns 2,475 shares of the financial services provider’s stock valued at $252,000 after buying an additional 157 shares during the last quarter. Finally, Board of the Pension Protection Fund bought a new stake in Brown & Brown in the fourth quarter valued at $102,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BRO shares. Royal Bank of Canada raised their target price on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group cut shares of Brown & Brown from a “buy” rating to a “neutral” rating and cut their price objective for the company from $126.00 to $119.00 in a research note on Tuesday. Truist Financial cut their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. UBS Group lifted their price objective on shares of Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an “underperform” rating on the stock in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $116.85.

Brown & Brown Trading Down 0.6%

Shares of BRO opened at $108.40 on Thursday. The business’s 50-day moving average price is $116.57 and its 200 day moving average price is $110.91. The stock has a market capitalization of $31.07 billion, a P/E ratio of 31.33, a P/E/G ratio of 2.93 and a beta of 0.87. Brown & Brown, Inc. has a 1-year low of $85.97 and a 1-year high of $125.68. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 EPS. Analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be paid a $0.15 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. Brown & Brown’s dividend payout ratio is currently 16.71%.

Brown & Brown Company Profile

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.