Guggenheim Capital LLC raised its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 32.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,091 shares of the financial services provider's stock after purchasing an additional 28,721 shares during the period. Guggenheim Capital LLC's holdings in Brown & Brown were worth $12,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in BRO. Barclays PLC grew its position 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 worth $255,537,000 after buying an additional 371,980 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in Brown & Brown by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 8,045 shares of the financial services provider's stock worth $833,000 after purchasing an additional 161 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Brown & Brown during the third quarter worth $58,000. Tidal Investments LLC increased its position in shares of Brown & Brown by 652.8% during the third quarter. Tidal Investments LLC now owns 259,205 shares of the financial services provider's stock worth $26,854,000 after purchasing an additional 224,772 shares in the last quarter. Finally, Synovus Financial Corp lifted its holdings in shares of Brown & Brown by 1.9% during the 3rd quarter. Synovus Financial Corp now owns 6,157 shares of the financial services provider's stock valued at $638,000 after purchasing an additional 117 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
BRO has been the topic of several recent analyst reports. Bank of America upped their target price on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Edward Jones started coverage on shares of Brown & Brown in a research report on Wednesday. They issued a "buy" rating for the company. 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 research note on Wednesday, January 29th. Morgan Stanley reiterated an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. Finally, Truist Financial upped their target price on Brown & Brown from $118.00 to $138.00 and gave the company a "buy" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $117.50.
Check Out Our Latest Report on BRO
Brown & Brown Stock Performance
Shares of BRO stock traded down $1.63 on Friday, hitting $117.17. The company had a trading volume of 1,795,477 shares, compared to its average volume of 1,434,774. The firm has a market cap of $33.50 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. Brown & Brown, Inc. has a twelve month low of $80.87 and a twelve month high of $125.68. The company has a 50-day moving average price of $117.28 and a 200-day moving average price of $109.98. 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 (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, equities research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.
Brown & Brown Announces Dividend
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Wednesday, February 5th. Brown & Brown's dividend payout ratio (DPR) is presently 17.34%.
Brown & Brown Profile
(
Free Report)
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.
Further Reading
Before you consider Brown & Brown, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Brown & Brown wasn't on the list.
While Brown & Brown currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
