Capital Fund Management S.A. Takes $2.99 Million Position in Brown & Brown, Inc. (NYSE:BRO)

Capital Fund Management S.A. bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,305 shares of the financial services provider's stock, valued at approximately $2,990,000.

A number of other hedge funds also recently added to or reduced their stakes in BRO. Faithward Advisors LLC increased its holdings in Brown & Brown by 5.8% during the 4th quarter. Faithward Advisors LLC now owns 30,022 shares of the financial services provider's stock valued at $3,063,000 after acquiring an additional 1,634 shares in the last quarter. Advisory Services Network LLC raised its position in shares of Brown & Brown by 52.5% in the fourth quarter. Advisory Services Network LLC now owns 54,441 shares of the financial services provider's stock valued at $5,554,000 after buying an additional 18,740 shares during the last quarter. Capula Management Ltd purchased a new position in shares of Brown & Brown during the fourth quarter valued at approximately $301,000. Bank of Nova Scotia boosted its position in Brown & Brown by 2.5% during the fourth quarter. Bank of Nova Scotia now owns 35,148 shares of the financial services provider's stock worth $3,586,000 after acquiring an additional 861 shares during the last quarter. Finally, Rathbones Group PLC purchased a new stake in Brown & Brown in the 4th quarter worth approximately $28,102,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BRO has been the topic of several analyst reports. Royal Bank of Canada raised their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Jefferies Financial Group upped their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research note on Friday, April 11th. UBS Group boosted their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. 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. Finally, Morgan Stanley restated an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $117.50.

Brown & Brown Stock Down 1.4 %

BRO traded down $1.63 during trading 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. Brown & Brown, Inc. has a 1-year low of $80.87 and a 1-year high of $125.68. 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 company has a market cap of $33.50 billion, a PE ratio of 33.86, a P/E/G ratio of 2.93 and a beta of 0.75. The business has a 50-day moving average of $117.28 and a 200-day moving average of $109.98.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share 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%. As a group, analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed 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 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 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.