8,440 Shares in Brown & Brown, Inc. (NYSE:BRO) Bought by MQS Management LLC

MQS Management LLC purchased a new stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,440 shares of the financial services provider's stock, valued at approximately $874,000. Brown & Brown makes up about 0.5% of MQS Management LLC's investment portfolio, making the stock its 28th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Brown & Brown by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider's stock worth $2,482,223,000 after purchasing an additional 203,105 shares in the last quarter. Principal Financial Group Inc. grew its position in Brown & Brown by 0.7% in the 2nd quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider's stock worth $1,144,893,000 after purchasing an additional 86,824 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Brown & Brown by 0.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider's stock worth $405,638,000 after purchasing an additional 28,180 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in 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 purchasing an additional 687,783 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its position in 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 purchasing an additional 1,059,711 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Trading Down 0.5 %

Shares of BRO stock traded down $0.51 on Wednesday, hitting $111.91. 1,254,817 shares of the company's stock traded hands, compared to its average volume of 1,319,387. The stock has a market capitalization of $32.00 billion, a price-to-earnings ratio of 30.62, a P/E/G ratio of 2.59 and a beta of 0.82. The company's fifty day simple moving average is $105.04 and its 200 day simple moving average is $97.49. Brown & Brown, Inc. has a one year low of $69.13 and a one year high of $114.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company earned $0.71 earnings per share. The business's quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts forecast that Brown & Brown, Inc. will post 3.73 EPS for the current year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.54%. The ex-dividend date is Wednesday, November 6th. This is an increase from Brown & Brown's previous quarterly dividend of $0.13. Brown & Brown's dividend payout ratio is 16.35%.

Analyst Ratings Changes

A number of brokerages have issued reports on BRO. Jefferies Financial Group upped their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Royal Bank of Canada boosted their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Bank of America boosted their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Truist Financial boosted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Raymond James boosted their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $106.50.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the company's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.02% of the stock is currently owned by insiders.

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.