Handelsbanken Fonder AB Purchases 67,200 Shares of Brown & Brown, Inc. (NYSE:BRO)

Handelsbanken Fonder AB boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 16.2% during the 4th quarter, Holdings Channel reports. The fund owned 482,334 shares of the financial services provider’s stock after buying an additional 67,200 shares during the period. Handelsbanken Fonder AB’s holdings in Brown & Brown were worth $49,208,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BRO. Brooklyn Investment Group bought a new position in shares of Brown & Brown in the 3rd quarter worth $26,000. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown in the third quarter valued at $29,000. Y.D. More Investments Ltd grew its holdings in shares of Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after buying an additional 162 shares during the last quarter. R Squared Ltd bought a new stake in shares of Brown & Brown during the fourth quarter worth about $31,000. Finally, Versant Capital Management Inc raised its holdings in shares of Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 234 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.7 %

BRO opened at $112.25 on Thursday. The company’s 50-day moving average price is $104.97 and its two-hundred day moving average price is $105.31. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $114.15. The stock has a market cap of $32.09 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 2.91 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. As a group, equities analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 17.34%.

Analyst Ratings Changes

A number of research firms have issued reports on BRO. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Wells Fargo & Company upped their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Truist Financial increased their price target on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods reduced their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Finally, Morgan Stanley started coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and a consensus target price of $113.17.

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.