Congress Asset Management Co. Decreases Stake in Brown & Brown, Inc. (NYSE:BRO)

Congress Asset Management Co. reduced its holdings in Brown & Brown, Inc. (NYSE:BRO) by 6.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,274,884 shares of the financial services provider’s stock after selling 87,125 shares during the period. Congress Asset Management Co.’s holdings in Brown & Brown were worth $130,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BRO. Zurich Insurance Group Ltd FI increased its position in Brown & Brown by 258.0% during the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock worth $66,985,000 after purchasing an additional 465,988 shares during the last quarter. Barclays PLC increased its position in Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after purchasing an additional 371,980 shares during the last quarter. FMR LLC increased its position in Brown & Brown by 42.4% during the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after purchasing an additional 330,661 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Brown & Brown by 129.3% during the third quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider’s stock worth $56,670,000 after purchasing an additional 308,458 shares during the last quarter. Finally, EULAV Asset Management increased its position in Brown & Brown by 144.8% during the fourth quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock worth $43,960,000 after purchasing an additional 254,900 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Trading Down 0.4 %

Shares of BRO stock opened at $110.50 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.73 and a current ratio of 1.79. The stock has a market capitalization of $31.60 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86. The company has a 50 day moving average price of $104.54 and a 200 day moving average price of $105.08. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $114.15.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Equities research analysts predict that Brown & Brown, Inc. will post 4.15 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. Brown & Brown’s dividend payout ratio is currently 17.34%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective for the company. Keefe, Bruyette & Woods dropped their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Barclays lifted their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Truist Financial lifted their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and an average price target of $113.17.

About Brown & Brown

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.