Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Amalgamated Bank

Amalgamated Bank grew its position in Brown & Brown, Inc. (NYSE:BROFree Report) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,328 shares of the financial services provider’s stock after purchasing an additional 3,576 shares during the quarter. Amalgamated Bank’s holdings in Brown & Brown were worth $4,772,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clear Street Markets LLC increased its stake in Brown & Brown by 93.7% in the first quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 223 shares during the period. First Capital Advisors Group LLC. acquired a new position in Brown & Brown during the second quarter worth about $26,000. West Tower Group LLC acquired a new position in shares of Brown & Brown in the second quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC raised its position in shares of Brown & Brown by 150.6% in the third quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock valued at $41,000 after buying an additional 354 shares during the last quarter. Finally, Huntington National Bank increased its position in Brown & Brown by 50.6% during the second quarter. Huntington National Bank now owns 652 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 219 shares during the last quarter. 70.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BRO has been the subject of several research reports. Bank of America assumed coverage on shares of Brown & Brown in a research note on Tuesday, December 12th. They set a “neutral” rating and a $77.00 price objective for the company. Jefferies Financial Group cut shares of Brown & Brown from a “buy” rating to a “hold” rating and dropped their target price for the stock from $85.00 to $78.00 in a report on Tuesday, January 9th. Keefe, Bruyette & Woods increased their target price on shares of Brown & Brown from $70.00 to $75.00 and gave the stock an “underperform” rating in a report on Friday, January 26th. Truist Financial increased their price objective on shares of Brown & Brown from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, UBS Group increased their price objective on shares of Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $82.70.

Check Out Our Latest Analysis on BRO

Brown & Brown Stock Performance

NYSE:BRO opened at $78.92 on Thursday. Brown & Brown, Inc. has a twelve month low of $52.82 and a twelve month high of $79.99. The company has a current ratio of 1.92, a quick ratio of 1.85 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $73.81 and a 200-day moving average of $72.36. The firm has a market cap of $22.46 billion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 2.78 and a beta of 0.78.

Brown & Brown (NYSE:BROGet Free Report) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The company had revenue of $1.03 billion during the quarter. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. During the same quarter in the previous year, the business earned $0.50 earnings per share. Analysts forecast that Brown & Brown, Inc. will post 3.2 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Thursday, February 1st. Brown & Brown’s dividend payout ratio (DPR) is 16.99%.

Brown & Brown Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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