Royal Bank of Canada Buys 173,320 Shares of Brown & Brown, Inc. $BRO

Royal Bank of Canada boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,569,784 shares of the financial services provider’s stock after buying an additional 173,320 shares during the quarter. Royal Bank of Canada’s holdings in Brown & Brown were worth $232,786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Brown & Brown in the fourth quarter valued at approximately $516,837,000. Capital International Investors bought a new position in Brown & Brown during the 4th quarter worth approximately $371,654,000. Van Lanschot Kempen Investment Management N.V. raised its holdings in 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 worth $361,725,000 after purchasing an additional 2,589,048 shares during the last quarter. Deutsche Bank AG lifted its position 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 worth $313,178,000 after purchasing an additional 1,361,934 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Brown & Brown by 1,679.0% in the 3rd quarter. AQR Capital Management LLC now owns 1,204,318 shares of the financial services provider’s stock worth $112,953,000 after purchasing an additional 1,136,623 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup cut shares of Brown & Brown from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $70.00 to $79.00 in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target on Brown & Brown from $81.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, July 13th. Keefe, Bruyette & Woods lifted their price objective on Brown & Brown from $72.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Wells Fargo & Company dropped their price objective on Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 9th. Finally, Truist Financial set a $90.00 target price on Brown & Brown in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $79.06.

Trending Headlines about Brown & Brown

Here are the key news stories impacting Brown & Brown this week:

• Positive Sentiment: Mizuho raised its price target for Brown & Brown from $81 to $86 and maintained an “outperform” rating, implying approximately 15% upside from the referenced price. The revision provides a favorable catalyst and reflects confidence in the company’s growth and acquisition integration prospects. Benzinga analyst rating report
• Positive Sentiment: Second-quarter revenue increased 30.4% year over year to roughly $1.7 billion, while net income rose 24.7%. Management cited higher contingent commissions, expense leverage, recent acquisitions and Accession-related synergies as contributors to profitability. Two reported insider purchases over the past six months also provide a modest confidence signal. Brown & Brown rises after Q2 revenue jump
• Neutral Sentiment: BMO Capital Markets lifted its target from $73 to $74 but kept a “market perform” rating. The small increase indicates limited near-term upside in BMO’s view, tempering the more optimistic Mizuho upgrade. Benzinga analyst rating report
• Negative Sentiment: Brown & Brown reported adjusted earnings of $1.07 per share, narrowly missing the $1.08 consensus estimate, while revenue also fell short of expectations. Organic revenue declined 0.7%, highlighting continued dependence on acquisitions and creating concerns about underlying demand and margin performance. Brown & Brown Q2 earnings miss estimates
• Neutral Sentiment: Dimensional Fund Advisors trimmed its Brown & Brown position by 0.7% in the first quarter, retaining a stake valued at approximately $111.6 million. The small reduction is unlikely to materially affect the investment case. Dimensional Fund Advisors Brown & Brown stake

Insider Transactions at Brown & Brown

In other news, Director H Palmer Proctor, Jr. bought 2,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were bought at an average cost of $57.10 per share, with a total value of $114,200.00. Following the completion of the transaction, the director directly owned 47,621 shares of the company’s stock, valued at $2,719,159.10. This trade represents a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 13.13% of the company’s stock.

Brown & Brown Stock Up 1.6%

Shares of NYSE BRO opened at $74.85 on Thursday. The company has a quick ratio of 1.64, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. The firm has a market cap of $25.05 billion, a PE ratio of 23.61, a P/E/G ratio of 3.40 and a beta of 0.60. The company’s fifty day simple moving average is $63.16 and its 200 day simple moving average is $66.50. Brown & Brown, Inc. has a 12-month low of $53.81 and a 12-month high of $98.30.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the firm posted $1.03 earnings per share. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. As a group, sell-side analysts forecast that Brown & Brown, Inc. will post 4.5 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 12th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, August 12th. Brown & Brown’s dividend payout ratio is 20.82%.

Brown & Brown Company 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.