14,900 Shares in Brown & Brown, Inc. $BRO Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the first quarter, Holdings Channel reports. The fund purchased 14,900 shares of the financial services provider’s stock, valued at approximately $972,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Capital World Investors increased its stake in shares of Brown & Brown by 81.1% in the third quarter. Capital World Investors now owns 17,479,389 shares of the financial services provider’s stock worth $1,639,392,000 after acquiring an additional 7,827,992 shares during the period. Norges Bank acquired a new stake in Brown & Brown during the 4th quarter worth about $516,837,000. Capital International Investors purchased a new position in shares of Brown & Brown during the 4th quarter valued at about $371,654,000. Van Lanschot Kempen Investment Management N.V. raised its stake in shares of Brown & Brown by 132.8% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,538,584 shares of the financial services provider’s stock valued at $361,725,000 after buying an additional 2,589,048 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Brown & Brown by 53.0% in the 4th quarter. Deutsche Bank AG now owns 3,929,461 shares of the financial services provider’s stock valued at $313,178,000 after buying an additional 1,361,934 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Price Performance

NYSE:BRO opened at $69.87 on Monday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 52 week low of $53.81 and a 52 week high of $108.75. The stock’s 50-day moving average price is $59.70 and its 200-day moving average price is $67.95. The stock has a market capitalization of $23.68 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 3.22 and a beta of 0.60.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.Brown & Brown’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 EPS. As a group, equities analysts expect that Brown & Brown, Inc. will post 4.52 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, May 11th. Brown & Brown’s dividend payout ratio is presently 21.22%.

Analyst Ratings Changes

BRO has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on Brown & Brown from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price target on Brown & Brown from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Barclays lowered their price objective on Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Bank of America dropped their price objective on shares of Brown & Brown from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Finally, Truist Financial cut their target price on shares of Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $78.25.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were purchased at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the transaction, the director directly owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. This represents a 4.38% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 13.13% of the stock is currently owned by insiders.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.