Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Tributary Capital Management LLC

Tributary Capital Management LLC lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 16.3% in the 4th quarter, Holdings Channel reports. The fund owned 13,596 shares of the financial services provider’s stock after buying an additional 1,905 shares during the period. Tributary Capital Management LLC’s holdings in Brown & Brown were worth $1,387,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in Brown & Brown by 24.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock valued at $311,979,000 after purchasing an additional 687,783 shares during the period. Zurich Insurance Group Ltd FI boosted its position in shares of 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 buying an additional 465,988 shares during the period. Truist Financial Corp boosted its position in shares of Brown & Brown by 392.3% during the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock worth $42,287,000 after buying an additional 376,892 shares during the period. Barclays PLC increased its position in Brown & Brown by 17.8% in the 3rd 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 period. Finally, Handelsbanken Fonder AB raised its stake in Brown & Brown by 771.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 415,134 shares of the financial services provider’s stock valued at $43,008,000 after acquiring an additional 367,500 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank of Canada raised their price target on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Truist Financial upped their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley started coverage on Brown & Brown in a research note on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $112.08.

Brown & Brown Stock Performance

Shares of BRO opened at $106.01 on Friday. Brown & Brown, Inc. has a one year low of $75.79 and a one year high of $114.15. The company has a 50-day moving average of $105.75 and a two-hundred day moving average of $103.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market cap of $30.31 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $0.71 EPS. On average, equities research analysts expect that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 16.35%.

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.