Wellington Management Group LLP Purchases 7,172 Shares of Brown & Brown, Inc. (NYSE:BRO)

Wellington Management Group LLP boosted its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 5.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 147,097 shares of the financial services provider's stock after buying an additional 7,172 shares during the period. Wellington Management Group LLP owned approximately 0.05% of Brown & Brown worth $15,239,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of Brown & Brown by 0.7% in the second quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider's stock valued at $1,144,893,000 after buying an additional 86,824 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Brown & Brown by 0.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider's stock valued at $405,638,000 after purchasing an additional 28,180 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Brown & Brown by 24.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider's stock worth $311,979,000 after purchasing an additional 687,783 shares during the period. Royal London Asset Management Ltd. grew its stake in Brown & Brown by 105.1% during the second quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider's stock worth $184,930,000 after buying an additional 1,059,711 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Brown & Brown by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,553,396 shares of the financial services provider's stock valued at $138,899,000 after buying an additional 114,688 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BRO shares. Truist Financial lifted their price objective on shares of 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 downgraded Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. Jefferies Financial Group boosted their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Bank of America increased their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company increased their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $109.46.

Brown & Brown Trading Up 0.5 %

Shares of NYSE:BRO traded up $0.53 during trading on Friday, reaching $104.19. The stock had a trading volume of 1,208,228 shares, compared to its average volume of 1,309,496. Brown & Brown, Inc. has a 52 week low of $69.13 and a 52 week high of $114.15. The firm's fifty day moving average is $107.92 and its 200 day moving average is $101.20. The stock has a market cap of $29.79 billion, a price-to-earnings ratio of 28.39, a P/E/G ratio of 2.40 and a beta of 0.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business's revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $0.71 EPS. As a group, equities analysts forecast that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.58%. This is a boost from Brown & Brown's previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. Brown & Brown's dividend payout ratio is presently 16.35%.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.