Russell Investments Group Ltd. Raises Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Russell Investments Group Ltd. raised its stake in Brown & Brown, Inc. (NYSE:BRO) by 55.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 358,929 shares of the financial services provider’s stock after purchasing an additional 127,903 shares during the period. Russell Investments Group Ltd.’s holdings in Brown & Brown were worth $25,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Golden State Equity Partners boosted its holdings in shares of Brown & Brown by 26.6% in the 4th quarter. Golden State Equity Partners now owns 4,669 shares of the financial services provider’s stock valued at $332,000 after buying an additional 982 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Brown & Brown by 21.0% in the fourth quarter. Truist Financial Corp now owns 116,090 shares of the financial services provider’s stock worth $8,255,000 after buying an additional 20,109 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Brown & Brown by 10.2% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,522 shares of the financial services provider’s stock worth $464,000 after buying an additional 602 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in shares of Brown & Brown during the fourth quarter valued at $250,000. Finally, GAMMA Investing LLC acquired a new position in shares of Brown & Brown in the 4th quarter valued at $184,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

BRO has been the subject of a number of research reports. The Goldman Sachs Group raised Brown & Brown from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $84.00 to $83.00 in a research report on Monday, January 8th. UBS Group lifted their target price on Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. Keefe, Bruyette & Woods boosted their target price on shares of Brown & Brown from $75.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company increased their price target on Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $87.10.

Insider Activity

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the transaction, the chairman now owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 17.02% of the company’s stock.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $82.70 on Thursday. The firm has a market cap of $23.59 billion, a PE ratio of 25.45, a P/E/G ratio of 2.23 and a beta of 0.79. The business has a 50-day moving average price of $84.22 and a 200 day moving average price of $77.41. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a twelve month low of $61.71 and a twelve month high of $87.99.

Brown & Brown (NYSE:BRO) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company posted $0.84 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. Sell-side analysts predict that Brown & Brown, Inc. will post 3.62 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, May 3rd. Brown & Brown’s payout ratio is 16.00%.

Brown & Brown 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.