Brown & Brown, Inc. $BRO Stake Lifted by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC boosted its stake in Brown & Brown, Inc. (NYSE:BRO) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 489,570 shares of the financial services provider’s stock after buying an additional 40,028 shares during the period. TimesSquare Capital Management LLC owned 0.14% of Brown & Brown worth $45,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BRO. Vanguard Group Inc. increased its position in Brown & Brown by 16.8% in the 2nd quarter. Vanguard Group Inc. now owns 35,625,322 shares of the financial services provider’s stock valued at $3,949,779,000 after acquiring an additional 5,124,203 shares during the period. Norges Bank acquired a new stake in shares of Brown & Brown during the 2nd quarter valued at $433,740,000. Principal Financial Group Inc. boosted its position in shares of Brown & Brown by 13.4% in 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 purchasing an additional 1,821,229 shares during the period. Boston Partners purchased a new position in shares of Brown & Brown in the second quarter worth approximately $171,163,000. Finally, State Street Corp boosted its stake in Brown & Brown by 11.3% in 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 purchasing an additional 1,262,139 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

BRO has been the topic of several recent analyst reports. Truist Financial cut their target price on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Wells Fargo & Company lowered their target price on Brown & Brown from $82.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday. BMO Capital Markets dropped their target price on Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a report on Thursday, January 29th. Barclays decreased their price target on shares of Brown & Brown from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Tuesday, January 27th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research note on Monday, November 3rd. Three analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.36.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $68.47 on Friday. The firm has a fifty day simple moving average of $77.38 and a 200-day simple moving average of $85.05. The company has a current ratio of 1.67, a quick ratio of 2.10 and a debt-to-equity ratio of 0.55. Brown & Brown, Inc. has a 1-year low of $65.68 and a 1-year high of $125.68. The stock has a market capitalization of $23.38 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.07 and a beta of 0.79.

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

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. Brown & Brown’s payout ratio 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.