Brown & Brown, Inc. (NYSE:BRO) Stock Holdings Increased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.6% during the 4th quarter, Holdings Channel reports. The fund owned 38,706 shares of the financial services provider’s stock after purchasing an additional 1,707 shares during the period. CIBC Asset Management Inc’s holdings in Brown & Brown were worth $3,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in Brown & Brown by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock valued at $1,316,259,000 after acquiring an additional 94,121 shares in the last quarter. Barclays PLC lifted its holdings in shares of Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after buying an additional 371,980 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Brown & Brown by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after buying an additional 17,934 shares during the period. FMR LLC lifted its holdings in shares of Brown & Brown by 42.4% in the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after buying an additional 330,661 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in shares of Brown & Brown by 6.2% in the third quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider’s stock valued at $80,749,000 after buying an additional 45,766 shares during the period. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BRO shares. Bank of America upped their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Barclays upped their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Royal Bank of Canada upped their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods cut their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Finally, Truist Financial boosted their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Stock Down 0.6 %

NYSE:BRO opened at $111.69 on Friday. The firm has a market capitalization of $31.93 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 2.91 and a beta of 0.86. Brown & Brown, Inc. has a 1-year low of $80.33 and a 1-year high of $114.15. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The business’s fifty day moving average price is $105.13 and its 200 day moving average price is $105.35.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, sell-side analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

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

Brown & Brown Company Profile

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.