Stifel Financial Corp Grows Position in Brown & Brown, Inc. (NYSE:BRO)

Stifel Financial Corp boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 367,340 shares of the financial services provider’s stock after acquiring an additional 1,712 shares during the period. Stifel Financial Corp owned about 0.13% of Brown & Brown worth $38,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in BRO. Studio Investment Management LLC boosted its stake in shares of Brown & Brown by 1.5% during the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Brown & Brown by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock valued at $1,819,000 after acquiring an additional 100 shares in the last quarter. Trust Point Inc. raised its position in shares of Brown & Brown by 4.3% in the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 103 shares in the last quarter. Creative Planning lifted its stake in shares of Brown & Brown by 0.4% during the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock worth $3,097,000 after purchasing an additional 112 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in Brown & Brown by 0.5% during the third quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock valued at $2,375,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BRO. Bank of America raised their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company lifted 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. Barclays raised their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Truist Financial boosted their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Argus assumed coverage on Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $109.46.

Brown & Brown Price Performance

NYSE:BRO opened at $109.18 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The company has a 50 day moving average price of $107.99 and a 200-day moving average price of $100.58. Brown & Brown, Inc. has a 1-year low of $69.13 and a 1-year high of $114.15. The firm has a market cap of $31.22 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 2.56 and a beta of 0.84.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts forecast that Brown & Brown, Inc. will post 3.74 EPS for the current 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 given a dividend of $0.15 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio is currently 16.35%.

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.