Pictet North America Advisors SA Purchases 2,737 Shares of Brown & Brown, Inc. (NYSE:BRO)

Pictet North America Advisors SA raised its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 92,922 shares of the financial services provider’s stock after purchasing an additional 2,737 shares during the quarter. Pictet North America Advisors SA’s holdings in Brown & Brown were worth $9,480,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BRO. Brooklyn Investment Group bought a new position in shares of Brown & Brown during the 3rd quarter valued at approximately $26,000. ST Germain D J Co. Inc. grew its stake in shares of Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown during the 3rd quarter valued at approximately $29,000. Y.D. More Investments Ltd lifted its holdings in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 162 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Brown & Brown in the 4th quarter worth approximately $31,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $110.95 on Friday. The stock’s fifty day moving average is $104.51 and its two-hundred day moving average is $104.92. The company has a market capitalization of $31.73 billion, a PE ratio of 32.07, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86. The company has a quick ratio of 1.73, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $114.15.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) 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%. As a group, analysts expect that Brown & Brown, Inc. will post 4.15 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BRO. Royal Bank of Canada boosted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley initiated coverage on Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective on the stock. Bank of America upped their price objective on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Truist Financial upped their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price target on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Brown & Brown has an average rating of “Hold” and a consensus target price of $113.17.

Brown & Brown 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.