Sumitomo Mitsui DS Asset Management Company Ltd Increases Position in Brown & Brown, Inc. (NYSE:BRO)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,720 shares of the financial services provider’s stock after buying an additional 666 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Brown & Brown were worth $2,624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Brown & Brown in the 3rd quarter valued at $26,000. ST Germain D J Co. Inc. grew its holdings in shares of Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown in the third quarter worth about $29,000. Y.D. More Investments Ltd increased its stake in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after buying an additional 162 shares during the period. Finally, R Squared Ltd bought a new stake in Brown & Brown during the 4th quarter valued at about $31,000. 71.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on BRO shares. Truist Financial upped their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Barclays lifted their target price on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Keefe, Bruyette & Woods decreased their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Trading Up 0.8 %

NYSE:BRO opened at $108.64 on Monday. The stock has a market capitalization of $31.07 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 2.84 and a beta of 0.86. Brown & Brown, Inc. has a 52 week low of $78.70 and a 52 week high of $114.15. The company has a quick ratio of 1.73, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $104.65 and a 200 day moving average of $104.74.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.15 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. Brown & Brown’s dividend payout ratio (DPR) is currently 17.34%.

About Brown & Brown

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.