Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC grew its holdings in Brown & Brown, Inc. (NYSE:BRO) by 671.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,153 shares of the financial services provider’s stock after purchasing an additional 42,779 shares during the quarter. Squarepoint Ops LLC’s holdings in Brown & Brown were worth $5,015,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BRO. Vanguard Group Inc. boosted its position in Brown & Brown by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock worth $3,054,493,000 after acquiring an additional 1,335,964 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Brown & Brown by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock valued at $1,316,259,000 after purchasing an additional 94,121 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Brown & Brown by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider’s stock valued at $620,737,000 after purchasing an additional 118,569 shares during the last quarter. Capital World Investors grew its stake in shares of Brown & Brown by 15.6% during the 4th quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider’s stock valued at $428,043,000 after buying an additional 566,116 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Brown & Brown by 11.4% during the 4th quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider’s stock valued at $388,045,000 after buying an additional 388,411 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Up 0.4%

Shares of Brown & Brown stock opened at $110.83 on Monday. The company has a fifty day moving average price of $115.55 and a 200 day moving average price of $111.22. 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, Inc. has a twelve month low of $85.97 and a twelve month high of $125.68. The stock has a market cap of $31.76 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87.

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

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. Brown & Brown’s dividend payout ratio is currently 16.71%.

Analysts Set New Price Targets

BRO has been the subject of several research reports. Keefe, Bruyette & Woods lowered their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an “underperform” rating for the company in a research note on Monday, May 5th. Jefferies Financial Group boosted their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a research note on Friday, April 11th. Truist Financial lowered their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Barclays boosted their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. Finally, Bank of America boosted their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Brown & Brown currently has an average rating of “Hold” and an average price target of $116.85.

Brown & Brown 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.