Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Unique Wealth LLC

Unique Wealth LLC grew its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 68.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,509 shares of the financial services provider’s stock after purchasing an additional 1,424 shares during the quarter. Unique Wealth LLC’s holdings in Brown & Brown were worth $358,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in shares of Brown & Brown by 24.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock valued at $311,979,000 after purchasing an additional 687,783 shares in the last quarter. Zurich Insurance Group Ltd FI increased its stake in Brown & Brown by 258.0% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock worth $66,985,000 after purchasing an additional 465,988 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Brown & Brown by 392.3% during the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock valued at $42,287,000 after acquiring an additional 376,892 shares during the period. Barclays PLC grew its holdings in shares of Brown & Brown by 17.8% during 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 in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Brown & Brown by 771.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 415,134 shares of the financial services provider’s stock valued at $43,008,000 after buying an additional 367,500 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BRO shares. Morgan Stanley began coverage on Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Bank of America boosted their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Barclays raised their price target on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Finally, Wells Fargo & Company boosted their price objective on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $112.08.

Brown & Brown Price Performance

NYSE:BRO opened at $102.57 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $106.77 and a 200 day simple moving average of $102.93. Brown & Brown, Inc. has a 1-year low of $73.23 and a 1-year high of $114.15. The stock has a market capitalization of $29.33 billion, a PE ratio of 27.95, a P/E/G ratio of 2.40 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm earned $0.71 EPS. Brown & Brown’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, research analysts expect that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.58%. Brown & Brown’s dividend payout ratio is presently 16.35%.

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.