Prospector Partners LLC Has $29.09 Million Position in Brown & Brown, Inc. (NYSE:BRO)

Prospector Partners LLC boosted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 285,170 shares of the financial services provider’s stock after buying an additional 696 shares during the quarter. Brown & Brown accounts for about 3.2% of Prospector Partners LLC’s investment portfolio, making the stock its 2nd largest position. Prospector Partners LLC owned approximately 0.10% of Brown & Brown worth $29,093,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of BRO. Benchmark Investment Advisors LLC raised its position in shares of Brown & Brown by 157.2% during the fourth quarter. Benchmark Investment Advisors LLC now owns 16,541 shares of the financial services provider’s stock worth $1,688,000 after purchasing an additional 10,111 shares during the period. Federated Hermes Inc. raised its holdings in Brown & Brown by 2.0% during the 4th quarter. Federated Hermes Inc. now owns 96,426 shares of the financial services provider’s stock worth $9,837,000 after buying an additional 1,875 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Brown & Brown during the 4th quarter worth about $1,401,000. Nutshell Asset Management Ltd purchased a new stake in Brown & Brown during the fourth quarter valued at about $1,071,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of Brown & Brown in the fourth quarter worth about $10,403,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BRO shares. Bank of America raised their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Wells Fargo & Company lifted 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. Royal Bank of Canada increased their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $112.67.

Brown & Brown Stock Performance

Shares of BRO opened at $115.01 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $125.68. The company’s fifty day moving average is $115.03 and its 200-day moving average is $108.97. The firm has a market cap of $32.89 billion, a price-to-earnings ratio of 33.24, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS 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%. Equities analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were issued a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.52%. Brown & Brown’s dividend payout ratio (DPR) is currently 17.34%.

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.