4,250 Shares in Brown & Brown, Inc. (NYSE:BRO) Bought by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd purchased a new stake in Brown & Brown, Inc. (NYSE:BRO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,250 shares of the financial services provider’s stock, valued at approximately $440,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BRO. Great Valley Advisor Group Inc. bought a new stake in Brown & Brown during the second quarter worth about $1,512,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Brown & Brown by 12.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock valued at $21,855,000 after buying an additional 27,879 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Brown & Brown by 162.3% in the second quarter. Assenagon Asset Management S.A. now owns 488,483 shares of the financial services provider’s stock valued at $43,675,000 after buying an additional 302,240 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Brown & Brown by 27.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 31,105 shares of the financial services provider’s stock worth $2,781,000 after acquiring an additional 6,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Brown & Brown by 1.4% in the 3rd 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 acquiring an additional 17,934 shares during the period. 71.01% of the stock is owned by institutional investors.

Brown & Brown Trading Down 0.2 %

Shares of BRO stock opened at $113.20 on Friday. The stock’s fifty day simple moving average is $106.73 and its 200 day simple moving average is $99.48. Brown & Brown, Inc. has a twelve month low of $69.13 and a twelve month high of $114.15. The firm has a market capitalization of $32.37 billion, a P/E ratio of 30.84, a P/E/G ratio of 2.57 and a beta of 0.82. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. Brown & Brown’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.53%. Brown & Brown’s dividend payout ratio is presently 16.35%.

Analysts Set New Price Targets

Several brokerages recently issued reports on BRO. Truist Financial raised their target price 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 report on Saturday, November 2nd. Argus assumed coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Barclays upped their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $107.42.

Brown & Brown 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.