EULAV Asset Management Grows Holdings in Brown & Brown, Inc. (NYSE:BRO)

EULAV Asset Management lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 144.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 430,900 shares of the financial services provider’s stock after buying an additional 254,900 shares during the quarter. EULAV Asset Management’s holdings in Brown & Brown were worth $43,960,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Brown & Brown in the 3rd quarter worth approximately $26,000. ST Germain D J Co. Inc. grew its position in shares of Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC acquired a new position in Brown & Brown in the third quarter valued at $29,000. Y.D. More Investments Ltd lifted its position in Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after buying an additional 162 shares during the period. Finally, R Squared Ltd purchased a new position in Brown & Brown during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of NYSE:BRO opened at $108.64 on Friday. The business’s 50-day simple moving average is $104.74 and its 200 day simple moving average is $104.54. The company has a market cap of $31.07 billion, a P/E ratio of 31.40, a PEG ratio of 2.75 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.73 and a current ratio of 1.79. Brown & Brown, Inc. has a one year low of $78.70 and a one year high of $114.15.

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

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. Brown & Brown’s dividend payout ratio is presently 17.34%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BRO. Morgan Stanley assumed coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective for the company. Wells Fargo & Company upped their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Truist Financial upped their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted 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. 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $113.17.

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.