Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Truist Financial Corp

Truist Financial Corp lifted its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 279,134 shares of the financial services provider's stock after acquiring an additional 5,521 shares during the quarter. Truist Financial Corp owned 0.10% of Brown & Brown worth $28,477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in shares of Brown & Brown by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock worth $1,316,259,000 after acquiring an additional 94,121 shares during the period. Barclays PLC grew 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 buying an additional 371,980 shares during the period. Charles Schwab Investment Management Inc. grew its position in Brown & Brown by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider's stock valued at $136,302,000 after buying an additional 17,934 shares during the period. FMR LLC grew its position 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 valued at $114,979,000 after buying an additional 330,661 shares during the period. Finally, Natixis Advisors LLC grew its position in Brown & Brown by 6.2% during the third quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider's stock valued at $80,749,000 after buying an additional 45,766 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. StockNews.com lowered shares of Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. Morgan Stanley assumed coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an "overweight" rating and a $134.00 price target on the stock. Keefe, Bruyette & Woods decreased their price objective 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. Finally, Barclays increased their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Brown & Brown has an average rating of "Hold" and an average target price of $113.17.

Brown & Brown Price Performance

Shares of NYSE:BRO traded up $0.00 during midday trading on Friday, hitting $111.65. The company's stock had a trading volume of 1,714,738 shares, compared to its average volume of 1,482,600. The business's 50 day simple moving average is $105.28 and its 200 day simple moving average is $105.49. 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 company has a market cap of $31.92 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $114.15.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share 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, analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

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