Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Capital World Investors

Capital World Investors increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 15.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,195,681 shares of the financial services provider's stock after purchasing an additional 566,116 shares during the quarter. Capital World Investors owned approximately 1.47% of Brown & Brown worth $428,043,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BRO. Mogy Joel R Investment Counsel Inc. grew its position in shares of Brown & Brown by 324.3% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider's stock worth $1,967,000 after buying an additional 14,740 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Brown & Brown by 395.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider's stock worth $3,489,000 after buying an additional 27,297 shares during the period. National Bank of Canada FI increased its holdings in shares of Brown & Brown by 56.8% in the fourth 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 period. Charles Schwab Investment Management Inc. increased its stake in shares of Brown & Brown by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider's stock worth $138,394,000 after acquiring an additional 40,881 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of 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 purchasing an additional 50,510 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Trading Up 0.7 %

Brown & Brown stock traded up $0.83 during trading on Wednesday, reaching $118.39. 1,933,145 shares of the company were exchanged, compared to its average volume of 1,436,073. The stock's 50 day simple moving average is $117.66 and its two-hundred day simple moving average is $110.25. The company has a market capitalization of $33.85 billion, a P/E ratio of 34.22, a PEG ratio of 2.93 and a beta of 0.75. 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 52-week low of $80.87 and a 52-week 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 net margin of 20.68% and a return on equity of 17.81%. On average, equities research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BRO. 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. Jefferies Financial Group boosted their price target on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company lifted their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Edward Jones initiated coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They issued a "buy" rating for the company. Finally, Truist Financial increased their target price on shares of Brown & Brown from $118.00 to $138.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown presently has an average rating of "Hold" and an average target price of $117.50.

Brown & Brown Company 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.