New York State Common Retirement Fund Sells 19,900 Shares of Brown & Brown, Inc. (NYSE:BRO)

New York State Common Retirement Fund reduced its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 6.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,522 shares of the financial services provider's stock after selling 19,900 shares during the period. New York State Common Retirement Fund owned approximately 0.10% of Brown & Brown worth $29,537,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Zurich Insurance Group Ltd FI grew its stake in Brown & Brown by 258.0% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider's stock worth $66,985,000 after buying an additional 465,988 shares in the last quarter. Barclays PLC raised its position in Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock valued at $255,537,000 after purchasing an additional 371,980 shares in the last quarter. FMR LLC lifted its stake in Brown & Brown by 42.4% during the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider's stock worth $114,979,000 after purchasing an additional 330,661 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Brown & Brown by 129.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider's stock worth $56,670,000 after purchasing an additional 308,458 shares in the last quarter. Finally, EULAV Asset Management increased its position in shares of Brown & Brown by 144.8% during the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider's stock valued at $43,960,000 after purchasing an additional 254,900 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Bank of America boosted their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Truist Financial boosted their target price on Brown & Brown from $116.00 to $118.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. StockNews.com lowered Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. Morgan Stanley assumed coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an "overweight" rating and a $134.00 price target on the stock. Finally, Barclays increased their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown has a consensus rating of "Hold" and an average target price of $113.17.

Brown & Brown Stock Up 0.7 %

BRO stock traded up $0.83 during trading on Monday, hitting $112.54. 1,577,900 shares of the stock traded hands, compared to its average volume of 1,585,669. The stock has a market cap of $32.18 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. 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 1 year low of $80.33 and a 1 year high of $114.15. The firm's 50 day moving average is $105.44 and its two-hundred day moving average is $105.62.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.53%. Brown & Brown's dividend payout ratio is 17.34%.

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.