Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Running Oak Capital LLC

Running Oak Capital LLC boosted its stake in Brown & Brown, Inc. (NYSE:BRO) by 6.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 139,759 shares of the financial services provider’s stock after acquiring an additional 8,688 shares during the period. Brown & Brown comprises approximately 1.9% of Running Oak Capital LLC’s investment portfolio, making the stock its 19th largest position. Running Oak Capital LLC’s holdings in Brown & Brown were worth $14,258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in shares of 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 worth $311,979,000 after purchasing an additional 687,783 shares during the period. Zurich Insurance Group Ltd FI lifted its stake in 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 purchasing an additional 465,988 shares in the last quarter. 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 grew its stake in shares of 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 buying an additional 371,980 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of Brown & Brown by 771.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 415,134 shares of the financial services provider’s stock valued at $43,008,000 after buying an additional 367,500 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Royal Bank of Canada upped their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley started coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target for the company. Wells Fargo & Company upped their price objective on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods reduced their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $112.08.

Brown & Brown Trading Up 0.7 %

BRO opened at $106.01 on Friday. The business’s 50-day simple moving average is $105.75 and its 200-day simple moving average is $103.70. The company has a market cap of $30.31 billion, a P/E ratio of 28.88, a PEG ratio of 2.12 and a beta of 0.85. Brown & Brown, Inc. has a one year low of $75.79 and a one year high of $114.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73.

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

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders 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 yield of 0.57%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 16.35%.

Brown & Brown 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.