Sumitomo Mitsui Trust Holdings Inc. Raises Position in Brown & Brown, Inc. (NYSE:BRO)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 657,284 shares of the financial services provider’s stock after buying an additional 18,557 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.23% of Brown & Brown worth $46,739,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Capital Advisors Group LLC. purchased a new stake in shares of Brown & Brown in the second quarter worth about $26,000. Fortitude Family Office LLC purchased a new stake in shares of Brown & Brown in the fourth quarter worth about $31,000. Quilter Plc purchased a new stake in shares of Brown & Brown in the first quarter worth about $438,906,000. Clear Street Markets LLC boosted its position in shares of Brown & Brown by 93.7% in the first quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock worth $26,000 after buying an additional 223 shares during the period. Finally, Park Place Capital Corp boosted its position in shares of Brown & Brown by 166.5% in the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after buying an additional 318 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 1.3 %

NYSE:BRO opened at $82.17 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $84.23 and its two-hundred day moving average is $76.72. Brown & Brown, Inc. has a 52 week low of $59.91 and a 52 week high of $87.99. The company has a market cap of $23.45 billion, a PE ratio of 26.85, a P/E/G ratio of 2.52 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $1.03 billion for the quarter. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. During the same period last year, the business posted $0.50 EPS. On average, analysts predict that Brown & Brown, Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial increased their price target on Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Keefe, Bruyette & Woods increased their price target on Brown & Brown from $75.00 to $80.00 and gave the company an “underperform” rating in a report on Wednesday, April 10th. Jefferies Financial Group downgraded Brown & Brown from a “buy” rating to a “hold” rating and reduced their price target for the company from $85.00 to $78.00 in a report on Tuesday, January 9th. Royal Bank of Canada increased their price target on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, UBS Group increased their price target on Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $86.80.

Insider Buying and Selling

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the sale, the chairman now owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 17.02% of the company’s stock.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.