PGGM Investments Has $1.46 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

PGGM Investments raised its position in Brown & Brown, Inc. (NYSE:BRO) by 195.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,594 shares of the financial services provider’s stock after acquiring an additional 13,616 shares during the quarter. PGGM Investments’ holdings in Brown & Brown were worth $1,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BRO. Alliance Wealth Advisors LLC UT bought a new position in Brown & Brown during the fourth quarter worth about $278,000. Russell Investments Group Ltd. increased its holdings in shares of Brown & Brown by 55.4% during the fourth quarter. Russell Investments Group Ltd. now owns 358,929 shares of the financial services provider’s stock worth $25,519,000 after purchasing an additional 127,903 shares during the period. Golden State Equity Partners raised its position in shares of Brown & Brown by 26.6% in the fourth quarter. Golden State Equity Partners now owns 4,669 shares of the financial services provider’s stock valued at $332,000 after buying an additional 982 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Brown & Brown by 21.0% in the fourth quarter. Truist Financial Corp now owns 116,090 shares of the financial services provider’s stock valued at $8,255,000 after buying an additional 20,109 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Brown & Brown by 10.2% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,522 shares of the financial services provider’s stock worth $464,000 after buying an additional 602 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

NYSE:BRO opened at $81.54 on Tuesday. The stock’s 50-day moving average is $84.24 and its 200-day moving average is $77.29. Brown & Brown, Inc. has a 1-year low of $61.71 and a 1-year high of $87.99. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52. The stock has a market cap of $23.26 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 2.23 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.07 by $0.07. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. Equities research analysts anticipate that Brown & Brown, Inc. will post 3.61 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown’s payout ratio is presently 16.00%.

Insider Buying and Selling at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the sale, the chairman now directly owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.43% of the company’s stock.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of recent analyst reports. StockNews.com upgraded Brown & Brown from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Brown & Brown from $75.00 to $80.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Truist Financial raised their price objective on Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada boosted their target price on Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, UBS Group increased their target price 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $87.10.

Brown & Brown Profile

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.