Mutual of America Capital Management LLC Has $3.12 Million Position in Brown & Brown, Inc. (NYSE:BRO)

Mutual of America Capital Management LLC lowered its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,869 shares of the financial services provider’s stock after selling 2,695 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Brown & Brown were worth $3,120,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BRO. Morgan Stanley grew 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 valued at $540,728,000 after purchasing an additional 6,186,323 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Brown & Brown by 658.3% in the second quarter. Goldman Sachs Group Inc. now owns 2,975,944 shares of the financial services provider’s stock valued at $173,617,000 after buying an additional 2,583,481 shares during the period. Norges Bank acquired a new position in shares of Brown & Brown in the fourth quarter valued at approximately $141,841,000. Victory Capital Management Inc. boosted its holdings in shares of Brown & Brown by 401.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,468,253 shares of the financial services provider’s stock valued at $83,646,000 after buying an additional 1,175,211 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Brown & Brown by 95.8% in the fourth quarter. Millennium Management LLC now owns 1,604,442 shares of the financial services provider’s stock valued at $91,405,000 after buying an additional 784,873 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BRO. Truist Financial upped their price target on shares of Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. UBS Group upped their price target on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Wells Fargo & Company upped their price target on shares of Brown & Brown from $81.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Bank of America cut shares of Brown & Brown from a “neutral” rating to an “underperform” rating and upped their price target for the company from $80.00 to $86.00 in a report on Wednesday, March 13th. Finally, Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $86.80.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.02% of the company’s stock.

Brown & Brown Stock Performance

NYSE BRO opened at $80.62 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.58. The firm’s fifty day moving average price is $84.18 and its two-hundred day moving average price is $76.60. Brown & Brown, Inc. has a 1 year low of $59.91 and a 1 year high of $87.99. The firm has a market capitalization of $23.00 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. The firm 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 last year, the company posted $0.50 earnings per share. As a group, research analysts anticipate that Brown & Brown, Inc. will post 3.44 EPS for the current year.

About Brown & Brown

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.