Aigen Investment Management LP Invests $548,000 in Brown & Brown, Inc. (NYSE:BRO)

Aigen Investment Management LP acquired a new stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,288 shares of the financial services provider's stock, valued at approximately $548,000.

Other large investors also recently made changes to their positions in the company. Royal London Asset Management Ltd. lifted its holdings in Brown & Brown by 105.1% during 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 lifted its stake in Brown & Brown by 24.6% in 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 buying an additional 687,783 shares in the last quarter. Capital World Investors grew its holdings in shares of Brown & Brown by 50.5% in the 1st quarter. Capital World Investors now owns 1,413,224 shares of the financial services provider's stock valued at $123,714,000 after acquiring an additional 473,982 shares in the last quarter. Natixis Advisors LLC grew its holdings in 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. Finally, Truist Financial Corp boosted its stake in shares of Brown & Brown by 392.3% during the 2nd quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider's stock worth $42,287,000 after acquiring an additional 376,892 shares during the period. Institutional investors own 71.01% of the company's stock.

Insider Transactions at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the company's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 17.02% of the company's stock.

Brown & Brown Stock Down 2.1 %

Shares of NYSE:BRO traded down $2.30 during trading on Thursday, hitting $109.61. The stock had a trading volume of 424,644 shares, compared to its average volume of 1,315,178. Brown & Brown, Inc. has a 12 month low of $69.13 and a 12 month high of $114.08. The company has a market capitalization of $31.34 billion, a PE ratio of 30.25, a PEG ratio of 2.59 and a beta of 0.82. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The firm's fifty day moving average is $105.16 and its 200 day moving average is $97.59.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share 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 business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm earned $0.71 earnings per share. The business's revenue for the quarter was up 11.0% on a year-over-year basis. Analysts anticipate that Brown & Brown, Inc. will post 3.73 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.55%. This is an increase from Brown & Brown's previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. Brown & Brown's payout ratio is 16.35%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BRO shares. Argus started coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They issued a "buy" rating and a $120.00 price target on the stock. StockNews.com cut Brown & Brown from a "buy" rating to a "hold" rating in a report on Saturday, November 2nd. Wells Fargo & Company raised their target price on Brown & Brown from $112.00 to $114.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Raymond James raised their price objective on Brown & Brown from $95.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Finally, Barclays began coverage on shares of Brown & Brown in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $108.00 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $106.50.

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.