R Squared Ltd Buys New Shares in Brown & Brown, Inc. (NYSE:BRO)

R Squared Ltd purchased a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, Holdings Channel reports. The fund purchased 300 shares of the financial services provider’s stock, valued at approximately $31,000.

Several other hedge funds have also added to or reduced their stakes in BRO. Zurich Insurance Group Ltd FI lifted its holdings in Brown & Brown by 258.0% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after purchasing an additional 465,988 shares during the last quarter. Barclays PLC lifted its holdings in Brown & Brown by 17.8% during the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after purchasing an additional 371,980 shares during the last quarter. FMR LLC lifted its holdings in Brown & Brown by 42.4% during the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after purchasing an additional 330,661 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in Brown & Brown by 129.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider’s stock valued at $56,670,000 after purchasing an additional 308,458 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in Brown & Brown by 652.8% during the 3rd quarter. Tidal Investments LLC now owns 259,205 shares of the financial services provider’s stock valued at $26,854,000 after purchasing an additional 224,772 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Performance

NYSE:BRO opened at $105.62 on Tuesday. The stock has a market cap of $30.20 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 2.75 and a beta of 0.86. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. The stock’s 50-day moving average is $105.13 and its 200-day moving average is $104.40. Brown & Brown, Inc. has a 1-year low of $77.12 and a 1-year high of $114.15.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Equities research analysts anticipate that Brown & Brown, Inc. will post 4.15 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, February 12th. Investors of record on Wednesday, February 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown’s payout ratio is presently 17.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Truist Financial lifted their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods dropped their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Jefferies Financial Group lifted their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price target on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Barclays boosted their price target on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $113.17.

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.