Quantum Capital Management LLC NJ Grows Stock Position in Brown & Brown, Inc. $BRO

Quantum Capital Management LLC NJ lifted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 169.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 261,796 shares of the financial services provider’s stock after buying an additional 164,519 shares during the period. Brown & Brown makes up about 2.7% of Quantum Capital Management LLC NJ’s investment portfolio, making the stock its 16th largest position. Quantum Capital Management LLC NJ’s holdings in Brown & Brown were worth $24,554,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Brown & Brown by 16.8% during the second quarter. Vanguard Group Inc. now owns 35,625,322 shares of the financial services provider’s stock valued at $3,949,779,000 after buying an additional 5,124,203 shares during the period. Norges Bank bought a new position in Brown & Brown in the second quarter worth approximately $433,740,000. Principal Financial Group Inc. raised its position in Brown & Brown by 13.4% in the third quarter. Principal Financial Group Inc. now owns 15,416,190 shares of the financial services provider’s stock worth $1,445,888,000 after acquiring an additional 1,821,229 shares during the period. Boston Partners purchased a new position in shares of Brown & Brown during the 2nd quarter worth $171,163,000. Finally, State Street Corp boosted its stake in shares of Brown & Brown by 11.3% during the 2nd quarter. State Street Corp now owns 12,460,821 shares of the financial services provider’s stock worth $1,381,531,000 after acquiring an additional 1,262,139 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $73.48 on Friday. The stock has a market cap of $25.01 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. Brown & Brown, Inc. has a 1 year low of $65.68 and a 1 year high of $125.68. The firm has a fifty day moving average price of $74.54 and a 200-day moving average price of $82.64. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. Brown & Brown’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 EPS. Equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s payout ratio is presently 20.63%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BRO. Bank of America cut their price objective on shares of Brown & Brown from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, January 27th. Wells Fargo & Company lowered their target price on Brown & Brown from $82.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Friday, February 13th. Truist Financial cut their price target on Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. Argus upgraded Brown & Brown to a “hold” rating in a research report on Tuesday, January 27th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $81.00 price objective (down from $90.00) on shares of Brown & Brown in a research note on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and an average price target of $90.43.

About Brown & Brown

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.