GAM Holding AG Invests $1.02 Million in Brown & Brown, Inc. (NYSE:BRO)

GAM Holding AG purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 10,029 shares of the financial services provider’s stock, valued at approximately $1,023,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurich Insurance Group Ltd FI boosted its holdings in Brown & Brown by 258.0% in the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after acquiring an additional 465,988 shares during the last quarter. Barclays PLC boosted its holdings in 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 acquiring an additional 371,980 shares during the last quarter. FMR LLC boosted its holdings in 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 acquiring an additional 330,661 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Brown & Brown by 129.3% in the third quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider’s stock valued at $56,670,000 after acquiring an additional 308,458 shares during the last quarter. Finally, EULAV Asset Management boosted its holdings in Brown & Brown by 144.8% in the fourth quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock valued at $43,960,000 after acquiring an additional 254,900 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on BRO. Royal Bank of Canada upped their target price on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley started coverage on Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Bank of America boosted their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Truist Financial boosted their price target on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $111.43 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $114.15. The stock’s 50 day moving average is $104.64 and its 200-day moving average is $105.19. The firm has a market capitalization of $31.86 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 2.84 and a beta of 0.86.

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

Brown & Brown Dividend Announcement

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