Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Stock Position in Brown & Brown, Inc. $BRO

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in Brown & Brown, Inc. (NYSE:BRO) by 11.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 131,743 shares of the financial services provider’s stock after selling 17,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Brown & Brown were worth $10,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. ICONIQ Capital LLC boosted its stake in Brown & Brown by 5.4% in the 2nd quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 109 shares in the last quarter. Zacks Investment Management boosted its stake in Brown & Brown by 0.7% in the 3rd quarter. Zacks Investment Management now owns 17,854 shares of the financial services provider’s stock worth $1,675,000 after purchasing an additional 125 shares in the last quarter. Private Trust Co. NA boosted its stake in Brown & Brown by 13.1% in the 4th quarter. Private Trust Co. NA now owns 1,147 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 133 shares in the last quarter. Moment Partners LLC boosted its stake in Brown & Brown by 3.0% in the 3rd quarter. Moment Partners LLC now owns 4,632 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 136 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its stake in Brown & Brown by 2.1% in the 3rd quarter. Moors & Cabot Inc. now owns 6,805 shares of the financial services provider’s stock worth $638,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BRO shares. Mizuho dropped their price target on shares of Brown & Brown from $85.00 to $84.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Truist Financial cut their target price on Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. JPMorgan Chase & Co. cut their target price on Brown & Brown from $91.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Finally, Citizens Jmp initiated coverage on Brown & Brown in a research note on Thursday, May 21st. They set a “market outperform” rating and a $70.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, Brown & Brown currently has an average rating of “Hold” and a consensus target price of $79.44.

Insider Activity

In other news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were purchased at an average cost of $57.10 per share, for a total transaction of $114,200.00. Following the purchase, the director directly owned 47,621 shares in the company, valued at approximately $2,719,159.10. This represents a 4.38% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 13.13% of the stock is currently owned by company insiders.

Brown & Brown Stock Performance

Shares of BRO opened at $58.85 on Friday. The business’s fifty day simple moving average is $61.63 and its two-hundred day simple moving average is $70.57. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 12 month low of $53.81 and a 12 month high of $111.51. The company has a market cap of $19.95 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 2.71 and a beta of 0.63.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the business posted $1.29 EPS. The company’s revenue was up 35.4% compared to the same quarter last year. Research analysts anticipate that Brown & Brown, Inc. will post 4.51 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, May 11th. Brown & Brown’s dividend payout ratio (DPR) is 21.22%.

Brown & Brown 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.