Corebridge Financial Inc. Buys 133 Shares of Brown & Brown, Inc. (NYSE:BRO)

Corebridge Financial Inc. boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,370 shares of the financial services provider’s stock after purchasing an additional 133 shares during the period. Corebridge Financial Inc.’s holdings in Brown & Brown were worth $6,261,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. FMR LLC lifted its position in shares of Brown & Brown by 42.4% during the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after buying an additional 330,661 shares in the last quarter. Brooklyn Investment Group purchased a new position in Brown & Brown during the third quarter valued at approximately $26,000. CreativeOne Wealth LLC lifted its holdings in Brown & Brown by 8.1% during the third quarter. CreativeOne Wealth LLC now owns 2,748 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 205 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Brown & Brown by 8.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,378 shares of the financial services provider’s stock worth $4,701,000 after purchasing an additional 3,581 shares in the last quarter. Finally, Fiduciary Trust Co increased its stake in shares of Brown & Brown by 14.0% in the third quarter. Fiduciary Trust Co now owns 14,136 shares of the financial services provider’s stock worth $1,464,000 after purchasing an additional 1,732 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BRO. Morgan Stanley reaffirmed an “equal weight” rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Bank of America upped their price objective on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Royal Bank of Canada increased their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods lowered 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. Finally, Wells Fargo & Company increased their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned 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 $112.67.

Brown & Brown Trading Up 0.1 %

Shares of BRO opened at $122.97 on Friday. The stock has a market capitalization of $35.16 billion, a PE ratio of 35.54, a P/E/G ratio of 2.93 and a beta of 0.86. The company’s fifty day moving average is $113.33 and its 200 day moving average is $108.31. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $123.24.

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 net margin of 20.68% and a return on equity of 17.81%. Sell-side analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.49%. Brown & Brown’s dividend payout ratio is presently 17.34%.

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.