Handelsbanken Fonder AB Raises Holdings in Brown & Brown, Inc. (NYSE:BRO)

Handelsbanken Fonder AB boosted its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 482,334 shares of the financial services provider's stock after purchasing an additional 67,200 shares during the period. Handelsbanken Fonder AB owned approximately 0.17% of Brown & Brown worth $49,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of BRO. Brooklyn Investment Group purchased a new stake in Brown & Brown in the third quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Brown & Brown in the 3rd quarter valued at approximately $29,000. Y.D. More Investments Ltd boosted its stake in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after purchasing an additional 162 shares in the last quarter. R Squared Ltd purchased a new stake in Brown & Brown during the 4th quarter worth approximately $31,000. Finally, Versant Capital Management Inc increased its stake in Brown & Brown by 130.7% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Performance

Shares of NYSE:BRO traded up $1.00 during trading on Monday, hitting $112.71. 771,670 shares of the stock traded hands, compared to its average volume of 1,560,116. The company has a fifty day moving average price of $105.28 and a two-hundred day moving average price of $105.54. The company has a market cap of $32.23 billion, a price-to-earnings ratio of 32.60, a P/E/G ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $114.15. 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 results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping 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, equities analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.53%. The ex-dividend date was Wednesday, February 5th. Brown & Brown's payout ratio is presently 17.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BRO shares. Bank of America lifted their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. StockNews.com downgraded Brown & Brown from a "buy" rating to a "hold" rating in a research note on Saturday, November 2nd. Keefe, Bruyette & Woods cut their price objective on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a report on Friday, January 10th. Truist Financial lifted their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown has an average rating of "Hold" and a consensus price target of $113.17.

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.