Vontobel Holding Ltd. Boosts Holdings in Brown & Brown, Inc. (NYSE:BRO)

Vontobel Holding Ltd. increased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,112 shares of the financial services provider’s stock after buying an additional 607 shares during the quarter. Vontobel Holding Ltd.’s holdings in Brown & Brown were worth $522,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BRO. Studio Investment Management LLC raised its stake in Brown & Brown by 1.5% during the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 96 shares in the last quarter. Journey Strategic Wealth LLC raised its stake in Brown & Brown by 2.3% during the fourth quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 99 shares in the last quarter. CWA Asset Management Group LLC raised its stake in Brown & Brown by 3.7% during the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 103 shares in the last quarter. Bleakley Financial Group LLC raised its stake in Brown & Brown by 3.4% during the fourth quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 103 shares in the last quarter. Finally, Creative Planning raised its stake in Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Wells Fargo & Company upped their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods cut their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Finally, Truist Financial upped their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Performance

Shares of BRO opened at $112.25 on Thursday. The business’s 50 day moving average is $104.97 and its two-hundred day moving average is $105.31. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $114.15. The firm has a market cap of $32.09 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 2.90 and a beta of 0.86. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last posted its quarterly 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 return on equity of 17.81% and a net margin of 20.68%. Analysts forecast that Brown & Brown, Inc. will post 4.17 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid 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 0.53%. Brown & Brown’s payout ratio is currently 17.34%.

About Brown & Brown

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.