E. Ohman J or Asset Management AB Purchases 1,770 Shares of Brown & Brown, Inc. (NYSE:BRO)

E. Ohman J or Asset Management AB boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 17.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,670 shares of the financial services provider’s stock after buying an additional 1,770 shares during the period. E. Ohman J or Asset Management AB’s holdings in Brown & Brown were worth $1,191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BRO. Cetera Investment Advisers raised its position in Brown & Brown by 60.6% during the second quarter. Cetera Investment Advisers now owns 27,338 shares of the financial services provider’s stock valued at $2,444,000 after purchasing an additional 10,313 shares during the period. Czech National Bank raised its position in Brown & Brown by 6.9% during the third quarter. Czech National Bank now owns 48,231 shares of the financial services provider’s stock valued at $4,997,000 after purchasing an additional 3,115 shares during the period. GAMMA Investing LLC raised its holdings in shares of Brown & Brown by 26.4% in the third quarter. GAMMA Investing LLC now owns 7,298 shares of the financial services provider’s stock worth $756,000 after buying an additional 1,522 shares during the period. Fulton Bank N.A. purchased a new stake in shares of Brown & Brown in the third quarter worth approximately $223,000. Finally, Atomi Financial Group Inc. purchased a new stake in shares of Brown & Brown in the third quarter worth approximately $621,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BRO shares. Keefe, Bruyette & Woods reduced their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Barclays increased their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Bank of America increased their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Truist Financial increased their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.17.

Brown & Brown Stock Up 0.8 %

Shares of NYSE BRO opened at $106.79 on Thursday. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $30.54 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 2.75 and a beta of 0.86. The stock’s fifty day simple moving average is $104.85 and its two-hundred day simple moving average is $104.52. Brown & Brown, Inc. has a 12-month low of $77.47 and a 12-month high of $114.15.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) 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%. As a group, analysts expect that Brown & Brown, Inc. will post 4.15 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.56%. Brown & Brown’s dividend payout ratio (DPR) 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.