Brown & Brown, Inc. (NYSE:BRO) Stock Position Increased by Townsquare Capital LLC

Townsquare Capital LLC lifted its position in Brown & Brown, Inc. (NYSE:BRO) by 4.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 78,145 shares of the financial services provider’s stock after buying an additional 3,385 shares during the period. Townsquare Capital LLC’s holdings in Brown & Brown were worth $8,096,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BRO. Royal London Asset Management Ltd. raised its stake in shares of Brown & Brown by 105.1% in the 2nd quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock worth $184,930,000 after buying an additional 1,059,711 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Brown & Brown by 24.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after buying an additional 687,783 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Brown & Brown by 123.9% during the second quarter. Natixis Advisors LLC now owns 733,668 shares of the financial services provider’s stock worth $65,597,000 after purchasing an additional 406,064 shares during the period. Truist Financial Corp raised its position 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 worth $42,287,000 after purchasing an additional 376,892 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of Brown & Brown by 771.5% during the third quarter. Handelsbanken Fonder AB now owns 415,134 shares of the financial services provider’s stock worth $43,008,000 after purchasing an additional 367,500 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Argus assumed coverage on Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price on the stock. Bank of America boosted their target price on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Truist Financial boosted their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $107.42.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $113.20 on Thursday. The business’s 50-day moving average price is $106.52 and its two-hundred day moving average price is $99.38. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. Brown & Brown, Inc. has a one year low of $69.13 and a one year high of $114.15. The company has a market capitalization of $32.37 billion, a P/E ratio of 30.84, a price-to-earnings-growth ratio of 2.57 and a beta of 0.82.

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

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.53%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is currently 16.35%.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.