American Century Companies Inc. Decreases Position in Brown & Brown, Inc. (NYSE:BRO)

American Century Companies Inc. reduced its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 67.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,469 shares of the financial services provider's stock after selling 9,398 shares during the quarter. American Century Companies Inc.'s holdings in Brown & Brown were worth $456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Brown & Brown by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 147,097 shares of the financial services provider's stock valued at $15,239,000 after acquiring an additional 7,172 shares during the last quarter. MML Investors Services LLC raised its position in shares of Brown & Brown by 0.8% during the 3rd quarter. MML Investors Services LLC now owns 28,710 shares of the financial services provider's stock valued at $2,974,000 after buying an additional 237 shares in the last quarter. Barclays PLC lifted its holdings in shares of Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock valued at $255,537,000 after acquiring an additional 371,980 shares during the last quarter. Toronto Dominion Bank grew its position in Brown & Brown by 1.4% in the third quarter. Toronto Dominion Bank now owns 117,794 shares of the financial services provider's stock worth $12,203,000 after acquiring an additional 1,681 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its stake in Brown & Brown by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 8,045 shares of the financial services provider's stock worth $833,000 after acquiring an additional 161 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Down 0.7 %

Brown & Brown stock traded down $0.85 during midday trading on Thursday, reaching $117.95. The company's stock had a trading volume of 276,047 shares, compared to its average volume of 1,426,889. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $125.68. The stock has a market capitalization of $33.73 billion, a P/E ratio of 34.11, a PEG ratio of 2.93 and a beta of 0.75. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The stock's 50-day simple moving average is $117.11 and its 200-day simple moving average is $109.89.

Brown & Brown (NYSE:BRO - Get Free Report) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, sell-side analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's dividend payout ratio is presently 17.34%.

Analyst Ratings Changes

Several equities analysts recently commented on BRO shares. Wells Fargo & Company upped their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Morgan Stanley reiterated an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. Bank of America upped 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. Truist Financial upped their target price on shares of Brown & Brown from $118.00 to $138.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Edward Jones assumed coverage on Brown & Brown in a research note on Wednesday. They issued a "buy" rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Brown & Brown has a consensus rating of "Hold" and a consensus target price of $117.50.

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.