Brown & Brown, Inc. $BRO is Van Lanschot Kempen Investment Management N.V.’s 9th Largest Position

Van Lanschot Kempen Investment Management N.V. grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 132.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,538,584 shares of the financial services provider’s stock after buying an additional 2,589,048 shares during the period. Brown & Brown comprises approximately 3.1% of Van Lanschot Kempen Investment Management N.V.’s holdings, making the stock its 9th biggest position. Van Lanschot Kempen Investment Management N.V.’s holdings in Brown & Brown were worth $361,725,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BRO. ICONIQ Capital LLC boosted its position in shares of Brown & Brown by 5.4% in the 2nd quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 109 shares in the last quarter. Zacks Investment Management boosted its position in shares of Brown & Brown by 0.7% in the 3rd quarter. Zacks Investment Management now owns 17,854 shares of the financial services provider’s stock worth $1,675,000 after purchasing an additional 125 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Brown & Brown by 13.1% in the 4th quarter. Private Trust Co. NA now owns 1,147 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 133 shares in the last quarter. Moment Partners LLC boosted its position in shares of Brown & Brown by 3.0% in the 3rd quarter. Moment Partners LLC now owns 4,632 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 136 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in shares of Brown & Brown by 2.1% in the 3rd quarter. Moors & Cabot Inc. now owns 6,805 shares of the financial services provider’s stock worth $638,000 after purchasing an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. The Goldman Sachs Group lowered their price objective on Brown & Brown from $82.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Wells Fargo & Company lowered their price objective on Brown & Brown from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. UBS Group lowered their price objective on Brown & Brown from $81.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday. Truist Financial lowered their price objective on Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Finally, Citizens Jmp assumed coverage on Brown & Brown in a research report on Thursday, May 21st. They issued a “market outperform” rating and a $70.00 price objective for the company. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and a consensus price target of $78.44.

Insider Buying and Selling

In other news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was bought at an average price of $57.10 per share, with a total value of $114,200.00. Following the transaction, the director owned 47,621 shares in the company, valued at $2,719,159.10. The trade was a 4.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.13% of the company’s stock.

Brown & Brown Stock Performance

Shares of BRO opened at $59.96 on Friday. The stock has a 50-day moving average of $61.11 and a two-hundred day moving average of $69.85. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $111.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market cap of $20.32 billion, a P/E ratio of 19.28, a P/E/G ratio of 2.76 and a beta of 0.63.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The firm’s revenue was up 35.4% compared to the same quarter last year. As a group, research analysts predict that Brown & Brown, Inc. will post 4.51 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. Brown & Brown’s payout ratio is currently 21.22%.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.