Allspring Global Investments Holdings LLC Buys 6,876 Shares of Brown & Brown, Inc. (NYSE:BRO)

Allspring Global Investments Holdings LLC raised its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,922,301 shares of the financial services provider’s stock after acquiring an additional 6,876 shares during the quarter. Brown & Brown makes up approximately 0.6% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 24th largest position. Allspring Global Investments Holdings LLC owned 1.37% of Brown & Brown worth $394,384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in shares of Brown & Brown in the 3rd quarter valued at approximately $26,000. ST Germain D J Co. Inc. lifted its position in Brown & Brown by 298.5% during 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 buying an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown during the 3rd quarter valued at $29,000. Y.D. More Investments Ltd boosted its holdings in shares of Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after buying an additional 162 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Brown & Brown in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Down 0.1 %

Shares of BRO stock opened at $108.78 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $114.15. The stock has a market capitalization of $31.11 billion, a P/E ratio of 31.44, a P/E/G ratio of 2.84 and a beta of 0.86. The firm’s 50 day moving average is $104.54 and its 200 day moving average is $104.89.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping 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%. Research analysts expect that Brown & Brown, Inc. will post 4.15 earnings per share for the current year.

Brown & Brown Dividend Announcement

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

Wall Street Analysts Forecast Growth

BRO has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lowered their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Royal Bank of Canada boosted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley assumed 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. Finally, Bank of America raised their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $113.17.

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.