Allianz Asset Management GmbH Raises Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Allianz Asset Management GmbH raised its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 36.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 423,017 shares of the financial services provider's stock after purchasing an additional 111,883 shares during the quarter. Allianz Asset Management GmbH owned 0.15% of Brown & Brown worth $43,156,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Mogy Joel R Investment Counsel Inc. raised its holdings in shares of Brown & Brown by 324.3% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider's stock worth $1,967,000 after acquiring an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Brown & Brown by 4.4% in the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider's stock worth $18,104,000 after purchasing an additional 6,805 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Brown & Brown by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider's stock valued at $136,302,000 after purchasing an additional 17,934 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Brown & Brown during the third quarter valued at approximately $9,832,000. Finally, EULAV Asset Management grew its holdings in Brown & Brown by 144.8% during the fourth quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider's stock worth $43,960,000 after buying an additional 254,900 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Stock Performance

BRO traded down $0.01 on Wednesday, hitting $114.76. The company's stock had a trading volume of 1,547,189 shares, compared to its average volume of 1,576,127. The company's 50 day simple moving average is $105.68 and its 200-day simple moving average is $105.73. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $115.34. The firm has a market cap of $32.81 billion, a P/E ratio of 33.17, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's payout ratio is 17.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BRO shares. Wells Fargo & Company raised their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Bank of America boosted their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods dropped their target price on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a research report on Friday, January 10th. StockNews.com downgraded Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. Finally, Truist Financial raised their target price on Brown & Brown from $116.00 to $118.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. One 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 MarketBeat, the company has an average rating of "Hold" and a consensus target price of $113.17.

Brown & Brown Company Profile

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.