Brown & Brown, Inc. (NYSE:BRO) Shares Bought by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 30.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,493 shares of the financial services provider's stock after buying an additional 26,520 shares during the quarter. State of Tennessee Department of Treasury's holdings in Brown & Brown were worth $11,477,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC purchased a new position in Brown & Brown in the fourth quarter worth $28,000. Y.D. More Investments Ltd lifted its position in Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after acquiring an additional 162 shares during the period. R Squared Ltd purchased a new stake in Brown & Brown in the fourth quarter valued at approximately $31,000. SBI Securities Co. Ltd. acquired a new stake in shares of Brown & Brown in the fourth quarter worth $37,000. Finally, Versant Capital Management Inc raised its holdings in shares of Brown & Brown by 130.7% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock worth $42,000 after purchasing an additional 234 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Performance

NYSE BRO traded down $3.47 on Friday, reaching $114.29. The stock had a trading volume of 3,085,479 shares, compared to its average volume of 1,439,418. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market cap of $32.68 billion, a P/E ratio of 33.03, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The business's 50-day moving average price is $118.02 and its 200 day moving average price is $110.50. Brown & Brown, Inc. has a 12-month low of $80.91 and a 12-month high of $125.68.

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, topping 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%. As a group, equities analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

BRO has been the subject of several recent research reports. Wells Fargo & Company lifted their price target on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Jefferies Financial Group boosted their price objective on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research report on Friday, April 11th. Royal Bank of Canada upped 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. Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Finally, Truist Financial upped their price objective on shares of Brown & Brown from $118.00 to $138.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $117.50.

About Brown & Brown

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.