Quantinno Capital Management LP Has $10.56 Million Holdings in Brown & Brown, Inc. $BRO

Quantinno Capital Management LP grew its position in Brown & Brown, Inc. (NYSE:BRO) by 43.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 161,907 shares of the financial services provider’s stock after acquiring an additional 48,870 shares during the period. Quantinno Capital Management LP’s holdings in Brown & Brown were worth $10,558,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. ICONIQ Capital LLC grew its position in Brown & Brown by 5.4% during the 2nd quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 109 shares during the last quarter. Zacks Investment Management raised its position in Brown & Brown by 0.7% in the third quarter. Zacks Investment Management now owns 17,854 shares of the financial services provider’s stock valued at $1,675,000 after purchasing an additional 125 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Brown & Brown by 13.1% during the fourth quarter. Private Trust Co. NA now owns 1,147 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 133 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of Brown & Brown by 2.1% during the third quarter. Moors & Cabot Inc. now owns 6,805 shares of the financial services provider’s stock valued at $638,000 after purchasing an additional 142 shares in the last quarter. Finally, Independent Advisor Alliance grew its holdings in shares of Brown & Brown by 0.5% during the fourth quarter. Independent Advisor Alliance now owns 33,805 shares of the financial services provider’s stock worth $2,694,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

BRO has been the subject of several recent research reports. UBS Group reaffirmed a “neutral” rating and issued a $73.00 price objective (up from $65.00) on shares of Brown & Brown in a research note on Wednesday, July 8th. Bank of America reduced their target price on shares of Brown & Brown from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Truist Financial set a $90.00 price target on shares of Brown & Brown in a research report on Wednesday, July 29th. Citizens Jmp raised their price target on shares of Brown & Brown from $70.00 to $78.00 and gave the company a “market outperform” rating in a research note on Friday, July 10th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Brown & Brown in a report on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $76.47.

Brown & Brown Stock Performance

NYSE:BRO opened at $71.80 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $98.30. The company has a 50 day simple moving average of $63.93 and a two-hundred day simple moving average of $66.32. The company has a market capitalization of $24.02 billion, a PE ratio of 22.65, a P/E/G ratio of 3.52 and a beta of 0.60.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. Research analysts anticipate that Brown & Brown, Inc. will post 4.49 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, August 12th. Brown & Brown’s dividend payout ratio (DPR) is presently 20.82%.

About Brown & Brown

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.