Renaissance Technologies LLC Reduces Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Renaissance Technologies LLC trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 54.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,000 shares of the financial services provider's stock after selling 166,400 shares during the period. Renaissance Technologies LLC's holdings in Brown & Brown were worth $13,977,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BRO. Norges Bank bought a new position in shares of Brown & Brown in the fourth quarter worth approximately $313,412,000. Madison Investment Advisors LLC bought a new position in shares of Brown & Brown during the fourth quarter valued at about $198,031,000. Vanguard Group Inc. boosted its holdings in shares of Brown & Brown by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after purchasing an additional 1,335,964 shares during the period. Proficio Capital Partners LLC grew its stake in shares of Brown & Brown by 11,337.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider's stock worth $1,109,000 after purchasing an additional 1,099,199 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Brown & Brown during the 4th quarter valued at approximately $71,915,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Performance

NYSE:BRO traded down $1.63 during mid-day trading on Friday, reaching $117.17. The company's stock had a trading volume of 1,795,477 shares, compared to its average volume of 1,434,774. The firm's fifty day moving average price is $117.28 and its two-hundred day moving average price is $109.98. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $33.50 billion, a P/E ratio of 33.86, a PEG ratio of 2.93 and a beta of 0.75. Brown & Brown, Inc. has a 12-month low of $80.87 and a 12-month high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last announced 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%. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's dividend payout ratio (DPR) is presently 17.34%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Jefferies Financial Group boosted their target price on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Bank of America lifted their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Finally, Truist Financial increased their price target on shares of Brown & Brown from $118.00 to $138.00 and gave the stock a "buy" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $117.50.

Brown & Brown 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.