First National Advisers LLC, a financial services provider, has increased its position in Brown & Brown, Inc. by 18.4% during the first quarter, according to its recent filing with the Securities & Exchange Commission. The fund now owns 15,671 shares of Brown & Brown’s stock, worth $900,000. This increase in position reflects the confidence the fund has in the company’s future growth.
Other institutional investors, including Morgan Stanley and Goldman Sachs Group Inc., have also bought and sold shares of Brown & Brown. Norges Bank and Victory Capital Management Inc. are among the investors who have recently acquired stakes in the company.
Brown & Brown, Inc. is a financial services provider that offers insurance products and services in the United States and internationally. The company has a market cap of $20.33 billion and a P/E ratio of 27.62. Despite the challenges presented by the COVID-19 pandemic, Brown & Brown reported strong quarterly earnings, beating analysts’ consensus estimates.
Apart from its financial performance, Brown & Brown has also announced a quarterly dividend. Investors of record on Wednesday, August 9th received a dividend of $0.115 per share. Wall Street analysts have weighed in on the stock, with four rating it as a hold and six giving it a buy rating.
In related news, Director Bronislaw Edmund Masojada recently acquired 4,000 shares of Brown & Brown’s stock. Corporate insiders now own 17.02% of the company’s stock.
Overall, the increase in Brown & Brown’s position by First National Advisers LLC signals confidence in the company’s financial performance and future prospects. With support from both institutional investors and positive analyst ratings, the company appears to be well-positioned for growth.
Source: This article is based on a source article from MarketBeat.