Russell Investments Group Ltd. Lowers Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Russell Investments Group Ltd. decreased its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 176,784 shares of the financial services provider's stock after selling 31,339 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Brown & Brown worth $18,035,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BRO. Mogy Joel R Investment Counsel Inc. raised its holdings in shares of Brown & Brown by 324.3% in the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider's stock valued at $1,967,000 after purchasing an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC grew its stake in Brown & Brown by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider's stock valued at $18,104,000 after purchasing an additional 6,805 shares during the period. National Bank of Canada FI increased its position in shares of Brown & Brown by 56.8% during the 4th quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider's stock valued at $19,365,000 after purchasing an additional 68,745 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Brown & Brown by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider's stock worth $138,394,000 after purchasing an additional 40,881 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Brown & Brown by 19.9% during the fourth quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider's stock worth $31,055,000 after buying an additional 50,510 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BRO shares. Barclays increased their price target on Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday. Royal Bank of Canada upped their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Truist Financial boosted 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. UBS Group increased their price objective on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, April 9th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Brown & Brown presently has an average rating of "Hold" and a consensus target price of $117.50.

Brown & Brown Stock Performance

Shares of BRO stock traded down $0.57 on Tuesday, reaching $120.33. The stock had a trading volume of 532,331 shares, compared to its average volume of 1,426,672. The stock has a market cap of $34.41 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The company has a 50 day simple moving average of $116.67 and a 200 day simple moving average of $109.76. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year 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%. Equities research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's payout ratio is currently 17.34%.

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.