Brown & Brown, Inc. (NYSE:BRO) Holdings Decreased by Credit Suisse AG

Posted by on Jun 8th, 2023

Credit Suisse AG trimmed its position in Brown & Brown, Inc. (NYSE:BRO – Get Rating) by 19.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 386,381 shares of the financial services provider’s stock after selling 92,100 shares during the quarter. Credit Suisse AG owned approximately 0.14% of Brown & Brown worth $22,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in BRO. Retirement Systems of Alabama grew its stake in Brown & Brown by 0.3% during the 3rd quarter. Retirement Systems of Alabama now owns 77,868 shares of the financial services provider’s stock worth $4,709,000 after buying an additional 200 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Brown & Brown by 1.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 15,200 shares of the financial services provider’s stock worth $866,000 after buying an additional 200 shares during the last quarter. Texas Permanent School Fund grew its stake in Brown & Brown by 0.7% during the 4th quarter. Texas Permanent School Fund now owns 33,399 shares of the financial services provider’s stock worth $1,903,000 after buying an additional 228 shares during the last quarter. Nomura Holdings Inc. grew its stake in Brown & Brown by 1.3% during the 3rd quarter. Nomura Holdings Inc. now owns 18,275 shares of the financial services provider’s stock worth $1,105,000 after buying an additional 234 shares during the last quarter. Finally, Virtus ETF Advisers LLC grew its stake in Brown & Brown by 2.3% during the 3rd quarter. Virtus ETF Advisers LLC now owns 10,896 shares of the financial services provider’s stock worth $659,000 after buying an additional 250 shares during the last quarter. 69.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on BRO shares. Jefferies Financial Group reduced their price target on Brown & Brown from $69.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, April 10th. Citigroup upgraded Brown & Brown from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $69.00 in a research report on Tuesday, April 18th. StockNews.com upgraded Brown & Brown from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on Brown & Brown from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, April 18th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Moderate Buy” and an average price target of $66.64.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $63.44 on Thursday. The business has a 50 day moving average price of $62.49 and a 200 day moving average price of $59.30. Brown & Brown, Inc. has a twelve month low of $52.82 and a twelve month high of $68.43. The company has a market cap of $17.99 billion, a price-to-earnings ratio of 26.21 and a beta of 0.75. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.76.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 17th. Investors of record on Monday, May 8th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, May 5th. This represents a $0.46 annualized dividend and a yield of 0.73%. Brown & Brown’s payout ratio is 19.01%.

About Brown & Brown

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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.

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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