Federated Hermes Inc. Increases Position in Brown & Brown, Inc. (NYSE:BRO)

Federated Hermes Inc. grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 96,426 shares of the financial services provider’s stock after purchasing an additional 1,875 shares during the period. Federated Hermes Inc.’s holdings in Brown & Brown were worth $9,837,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BRO. Mogy Joel R Investment Counsel Inc. raised its stake in Brown & Brown by 324.3% during the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock valued at $1,967,000 after buying an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Brown & Brown by 4.4% during the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock valued at $18,104,000 after acquiring an additional 6,805 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Brown & Brown by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock worth $138,394,000 after purchasing an additional 40,881 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Brown & Brown by 19.9% during the fourth quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock valued at $31,055,000 after purchasing an additional 50,510 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Brown & Brown by 56.8% during the fourth quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider’s stock valued at $19,365,000 after buying an additional 68,745 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

BRO has been the subject of a number of recent analyst reports. UBS Group boosted their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America increased their price objective 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. Keefe, Bruyette & Woods lifted their target price on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an “underperform” rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. One equities research 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 company presently has an average rating of “Hold” and a consensus price target of $115.25.

Brown & Brown Trading Up 0.4 %

Shares of NYSE:BRO opened at $117.12 on Friday. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $125.68. The company has a market cap of $33.49 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The stock has a 50 day moving average of $116.13 and a 200 day moving average of $109.48. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (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%. As a group, equities research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. Brown & Brown’s dividend payout ratio is presently 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.