Running Oak Capital LLC Increases Stake in Brown & Brown, Inc. (NYSE:BRO)

Running Oak Capital LLC increased its stake in Brown & Brown, Inc. (NYSE:BRO) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,759 shares of the financial services provider’s stock after purchasing an additional 8,688 shares during the period. Brown & Brown accounts for about 1.9% of Running Oak Capital LLC’s portfolio, making the stock its 19th largest position. Running Oak Capital LLC’s holdings in Brown & Brown were worth $14,258,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Brown & Brown by 0.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock worth $405,638,000 after buying an additional 28,180 shares during the period. The Manufacturers Life Insurance Company lifted its position in Brown & Brown by 24.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after acquiring an additional 687,783 shares during the period. Barclays PLC grew its stake in Brown & Brown by 17.8% during the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after purchasing an additional 371,980 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Brown & Brown by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after purchasing an additional 17,934 shares during the period. Finally, FMR LLC raised its stake in shares of Brown & Brown by 42.4% in the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after purchasing an additional 330,661 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of recent research reports. Jefferies Financial Group raised their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Bank of America raised their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Barclays upped their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Truist Financial lifted their price objective on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $112.08.

Brown & Brown Trading Up 0.7 %

Shares of NYSE:BRO opened at $106.01 on Friday. The firm has a market capitalization of $30.31 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. The business’s 50 day moving average price is $105.75 and its 200-day moving average price is $103.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. Brown & Brown, Inc. has a 1 year low of $75.79 and a 1 year high of $114.15.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities research analysts forecast that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

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.