Principal Financial Group Inc. Purchases 94,121 Shares of Brown & Brown, Inc. (NYSE:BRO)

Principal Financial Group Inc. increased its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,901,968 shares of the financial services provider's stock after purchasing an additional 94,121 shares during the period. Brown & Brown accounts for 0.7% of Principal Financial Group Inc.'s portfolio, making the stock its 27th largest holding. Principal Financial Group Inc. owned 4.51% of Brown & Brown worth $1,316,259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BRO. Creative Planning increased its holdings in Brown & Brown by 0.4% in the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider's stock valued at $3,097,000 after acquiring an additional 112 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in Brown & Brown by 22.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,059 shares of the financial services provider's stock valued at $317,000 after acquiring an additional 554 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Brown & Brown by 10.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,054 shares of the financial services provider's stock valued at $2,596,000 after acquiring an additional 2,454 shares during the last quarter. Trust Point Inc. increased its holdings in Brown & Brown by 4.3% in the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider's stock valued at $261,000 after acquiring an additional 103 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Brown & Brown by 166.2% in the 3rd quarter. Blue Trust Inc. now owns 1,464 shares of the financial services provider's stock valued at $152,000 after acquiring an additional 914 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on BRO shares. Keefe, Bruyette & Woods reduced their target price on shares of 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 boosted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Barclays boosted their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a report on Thursday, November 21st. StockNews.com downgraded shares of Brown & Brown from a "buy" rating to a "hold" rating in a report on Saturday, November 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. One equities research 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, the stock currently has a consensus rating of "Hold" and a consensus target price of $113.17.

Brown & Brown Trading Down 0.6 %

Brown & Brown stock traded down $0.63 during trading hours on Thursday, hitting $111.69. The company had a trading volume of 1,483,119 shares, compared to its average volume of 1,581,995. The firm has a market cap of $31.93 billion, a P/E ratio of 32.28, a P/E/G ratio of 2.91 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $114.15. The company has a 50-day moving average price of $105.13 and a two-hundred day moving average price of $105.35.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating 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 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown's payout ratio is presently 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.