J.P. Morgan Private Wealth Advisors LLC Has $1.25 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

J.P. Morgan Private Wealth Advisors LLC decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BROFree Report) by 4.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,939 shares of the financial services provider’s stock after selling 766 shares during the period. J.P. Morgan Private Wealth Advisors LLC’s holdings in Brown & Brown were worth $1,253,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Brown & Brown by 1.3% during the first quarter. BlackRock Inc. now owns 16,764,258 shares of the financial services provider’s stock worth $962,604,000 after purchasing an additional 218,939 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Brown & Brown by 2.3% during the second quarter. Principal Financial Group Inc. now owns 12,025,025 shares of the financial services provider’s stock worth $827,803,000 after purchasing an additional 274,289 shares during the last quarter. Morgan Stanley boosted its holdings in Brown & Brown by 187.2% during the fourth quarter. Morgan Stanley now owns 9,491,448 shares of the financial services provider’s stock worth $540,728,000 after purchasing an additional 6,186,323 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Brown & Brown by 2.1% during the first quarter. Geode Capital Management LLC now owns 5,287,929 shares of the financial services provider’s stock worth $303,385,000 after purchasing an additional 108,521 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Brown & Brown by 2.1% during the second quarter. Wells Fargo & Company MN now owns 3,405,935 shares of the financial services provider’s stock worth $234,465,000 after purchasing an additional 68,778 shares during the last quarter. Institutional investors and hedge funds own 70.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BRO shares. Bank of America started coverage on shares of Brown & Brown in a report on Tuesday, December 12th. They set a “neutral” rating and a $77.00 target price for the company. Wells Fargo & Company increased their price target on shares of Brown & Brown from $72.00 to $81.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Truist Financial increased their price target on shares of Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. UBS Group increased their price target on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Finally, Raymond James increased their price target on shares of Brown & Brown from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $82.70.

Check Out Our Latest Analysis on BRO

Brown & Brown Price Performance

Shares of BRO opened at $81.00 on Monday. The firm has a market capitalization of $23.05 billion, a PE ratio of 26.47, a PEG ratio of 2.87 and a beta of 0.78. The company’s 50-day moving average is $74.05 and its 200-day moving average is $72.49. Brown & Brown, Inc. has a fifty-two week low of $52.82 and a fifty-two week high of $81.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.85.

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

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Friday, February 2nd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, February 1st. Brown & Brown’s dividend payout ratio is 16.99%.

Brown & Brown Company 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.

Further Reading

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

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