Distillate Capital Partners LLC Acquires New Holdings in Brown & Brown, Inc. $BRO

Distillate Capital Partners LLC bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 174,232 shares of the financial services provider’s stock, valued at approximately $16,350,000. Distillate Capital Partners LLC owned 0.05% of Brown & Brown as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BRO. AQR Capital Management LLC boosted its position in shares of Brown & Brown by 38.3% during the first quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock worth $4,132,000 after buying an additional 9,264 shares during the period. Focus Partners Wealth increased its position in Brown & Brown by 5.2% in the 1st quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock valued at $1,387,000 after acquiring an additional 547 shares during the period. Allworth Financial LP raised its stake in Brown & Brown by 472.8% during the 2nd quarter. Allworth Financial LP now owns 5,499 shares of the financial services provider’s stock valued at $610,000 after acquiring an additional 4,539 shares in the last quarter. Boston Partners bought a new stake in Brown & Brown during the 2nd quarter valued at $171,163,000. Finally, KBC Group NV boosted its position in Brown & Brown by 20.5% during the 2nd quarter. KBC Group NV now owns 41,584 shares of the financial services provider’s stock worth $4,611,000 after acquiring an additional 7,071 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Argus raised Brown & Brown to a “hold” rating in a research note on Tuesday, January 27th. Truist Financial cut their price objective on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brown & Brown in a research report on Monday, December 29th. Jefferies Financial Group lowered their target price on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Finally, Bank of America dropped their price target on shares of Brown & Brown from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 27th. Four equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and a consensus target price of $90.29.

Brown & Brown Trading Up 0.9%

Shares of Brown & Brown stock opened at $68.29 on Monday. The business has a fifty day simple moving average of $73.46 and a 200-day simple moving average of $81.57. The firm has a market cap of $23.25 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 1.83 and a beta of 0.79. Brown & Brown, Inc. has a fifty-two week low of $65.68 and a fifty-two week high of $125.68. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the business earned $0.86 earnings per share. Brown & Brown’s revenue for the quarter was up 35.7% compared to the same quarter last year. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. Brown & Brown’s payout ratio is currently 20.63%.

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.