Mizuho Markets Americas LLC Has $6.25 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Mizuho Markets Americas LLC decreased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 19.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 60,331 shares of the financial services provider’s stock after selling 14,588 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Brown & Brown were worth $6,250,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Brown & Brown by 0.7% during the first quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider’s stock valued at $2,482,223,000 after acquiring an additional 203,105 shares during the period. Principal Financial Group Inc. increased its position in shares of Brown & Brown by 0.7% during the second quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock valued at $1,144,893,000 after purchasing an additional 86,824 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Brown & Brown by 0.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock valued at $405,638,000 after purchasing an additional 28,180 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of 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. Finally, Royal London Asset Management Ltd. boosted its position in shares of Brown & Brown by 105.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock valued at $184,930,000 after acquiring an additional 1,059,711 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of analyst reports. Raymond James raised their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Royal Bank of Canada boosted their price target on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Argus started coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Brown & Brown has an average rating of “Hold” and an average price target of $106.50.

Insider Activity at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 17.02% of the stock is owned by corporate insiders.

Brown & Brown Trading Up 0.5 %

NYSE:BRO opened at $110.05 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 1-year low of $69.13 and a 1-year high of $114.08. The firm has a market capitalization of $31.47 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 2.58 and a beta of 0.82. The business’s 50-day moving average price is $105.38 and its two-hundred day moving average price is $97.87.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. Brown & Brown’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. On average, equities analysts expect that Brown & Brown, Inc. will post 3.73 earnings per share for the current year.

Brown & Brown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a $0.15 dividend. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. Brown & Brown’s payout ratio is 16.35%.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.