Tower Research Capital LLC TRC Purchases 9,086 Shares of Brown & Brown, Inc. (NYSE:BRO)

Tower Research Capital LLC TRC grew its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 119.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,670 shares of the financial services provider's stock after purchasing an additional 9,086 shares during the quarter. Tower Research Capital LLC TRC's holdings in Brown & Brown were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC raised its holdings 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 acquiring an additional 371,980 shares during the period. SkyView Investment Advisors LLC lifted its holdings in Brown & Brown by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 8,045 shares of the financial services provider's stock worth $833,000 after purchasing an additional 161 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Brown & Brown in the 3rd quarter worth approximately $58,000. Tidal Investments LLC boosted its stake in Brown & Brown by 652.8% in the 3rd quarter. Tidal Investments LLC now owns 259,205 shares of the financial services provider's stock worth $26,854,000 after purchasing an additional 224,772 shares during the period. Finally, Synovus Financial Corp grew its holdings in Brown & Brown by 1.9% during the 3rd quarter. Synovus Financial Corp now owns 6,157 shares of the financial services provider's stock valued at $638,000 after buying an additional 117 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Up 3.7 %

Brown & Brown stock opened at $117.61 on Wednesday. Brown & Brown, Inc. has a 1-year low of $80.87 and a 1-year high of $125.68. The business has a fifty day moving average price of $117.53 and a 200-day moving average price of $110.19. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $33.63 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 2.93 and a beta of 0.75.

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 return on equity of 17.81% and a net margin of 20.68%. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BRO shares. Royal Bank of Canada upped their target price 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. Truist Financial raised their price objective on Brown & Brown from $118.00 to $138.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. Edward Jones started coverage on Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating on the stock. UBS Group raised their price target on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. Finally, Jefferies Financial Group upped their price objective on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. 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 stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target 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.

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