Mariner LLC Has $6.16 Million Position in Brown & Brown, Inc. (NYSE:BRO)

Mariner LLC increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,382 shares of the financial services provider’s stock after purchasing an additional 3,361 shares during the quarter. Mariner LLC’s holdings in Brown & Brown were worth $6,160,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BRO. Kohmann Bosshard Financial Services LLC bought a new stake in Brown & Brown during the 4th quarter worth $28,000. Y.D. More Investments Ltd raised its holdings in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after buying an additional 162 shares during the last quarter. R Squared Ltd acquired a new stake in Brown & Brown during the 4th quarter worth approximately $31,000. SBI Securities Co. Ltd. bought a new stake in Brown & Brown during the 4th quarter worth approximately $37,000. Finally, Versant Capital Management Inc increased its position in Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 234 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

BRO has been the topic of several analyst reports. Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Truist Financial raised their price objective on Brown & Brown from $118.00 to $138.00 and gave the stock a “buy” rating in a research report on Tuesday, April 15th. Wells Fargo & Company upped their target price on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price target on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an “underperform” rating in a report on Wednesday, April 9th. Finally, UBS Group upped their price objective on shares of Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $117.50.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $117.17 on Friday. The firm has a market capitalization of $33.50 billion, a P/E ratio of 33.86, a P/E/G ratio of 2.93 and a beta of 0.75. The firm’s 50-day moving average price is $117.44 and its 200-day moving average price is $110.10. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 1-year low of $80.87 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Equities research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.51%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s payout ratio is currently 17.34%.

Brown & Brown Company 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.