Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 4.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 181,287 shares of the financial services provider's stock after buying an additional 8,317 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.06% of Brown & Brown worth $18,482,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BRO. Barclays PLC raised its position in 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 purchasing an additional 371,980 shares during the period. SkyView Investment Advisors LLC grew its stake 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 in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Brown & Brown during the 3rd quarter valued at about $58,000. Tidal Investments LLC lifted its holdings in 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 buying an additional 224,772 shares during the period. Finally, Synovus Financial Corp boosted its position in Brown & Brown by 1.9% during the third 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 in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BRO has been the subject of a number of recent analyst reports. Morgan Stanley reissued an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Truist Financial raised their price target on Brown & Brown from $118.00 to $138.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Royal Bank of Canada boosted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. UBS Group raised their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 9th. Finally, Edward Jones initiated coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating for the company. One research 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $117.50.

Brown & Brown Price Performance

Brown & Brown stock traded up $0.83 during midday trading on Wednesday, reaching $118.39. The company had a trading volume of 1,933,145 shares, compared to its average volume of 1,436,073. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a 12-month low of $80.87 and a 12-month high of $125.68. The company has a market capitalization of $33.85 billion, a P/E ratio of 34.22, a P/E/G ratio of 2.93 and a beta of 0.75. The firm's fifty day simple moving average is $117.66 and its 200-day simple moving average is $110.25.

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, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

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.