Truist Financial Corp Purchases 5,521 Shares of Brown & Brown, Inc. (NYSE:BRO)

Truist Financial Corp boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 279,134 shares of the financial services provider’s stock after acquiring an additional 5,521 shares during the quarter. Truist Financial Corp’s holdings in Brown & Brown were worth $28,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc increased its stake in Brown & Brown by 4.6% in the fourth quarter. CIBC Asset Management Inc now owns 38,706 shares of the financial services provider’s stock valued at $3,949,000 after acquiring an additional 1,707 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Brown & Brown by 1.2% in the fourth quarter. Sanctuary Advisors LLC now owns 163,559 shares of the financial services provider’s stock valued at $17,249,000 after acquiring an additional 1,990 shares during the last quarter. Principal Financial Group Inc. increased its stake in Brown & Brown by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock valued at $1,316,259,000 after acquiring an additional 94,121 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Brown & Brown during the fourth quarter valued at about $903,000. Finally, Sheaff Brock Investment Advisors LLC boosted its position in Brown & Brown by 8.8% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 4,005 shares of the financial services provider’s stock valued at $409,000 after buying an additional 324 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on BRO shares. Truist Financial upped their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Bank of America upped their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Wells Fargo & Company upped their price target on shares of 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 started coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target for the company. Finally, Royal Bank of Canada upped their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. One investment 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 currently has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Performance

Shares of BRO opened at $111.43 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.73. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $114.15. The company has a 50-day simple moving average of $104.64 and a two-hundred day simple moving average of $105.19. The firm has a market capitalization of $31.86 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86.

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 net margin of 20.68% and a return on equity of 17.81%. On average, analysts anticipate that Brown & Brown, Inc. will post 4.15 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio 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.