Allspring Global Investments Holdings Reduces $15M in Brown & Brown, Inc. ($BRO)
Key Points
- Allspring Global Investments Holdings changed its Brown & Brown, Inc. ($BRO) stake by 9.2% last quarter, cutting to 2,544,886 shares worth $151.19 million.
- Wall Street's consensus rating on $BRO is Hold and an average price target of $71.50.
- $BRO last traded around $59.41.
Allspring Global Investments Holdings trimmed its position in Brown & Brown, Inc. ($BRO) by 9.2% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,544,886 shares of Brown & Brown, Inc. after selling 257,441 shares during the quarter. Allspring Global Investments Holdings's holdings in Brown & Brown, Inc. were worth $151.19 million as of its most recent filing.
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About Brown & Brown, Inc.
Brown & Brown, Inc. markets and sells insurance products and services in the United States, the United Kingdom, and internationally. It operates through Retail and Specialty Distribution segments. 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. This segment also offers non-insurance services and products through automobile and recreational vehicle dealer services businesses. It serves commercial, public and quasi-public entities, professional, and individual customers. The Specialty Distribution segment comprises wholesale brokerage and specialty businesses. This segment offers professional liability and related package insurance products for dentistry, legal, eyecare, insurance, insurance, financial, physicians, real estate title professionals, as well as supplementary insurance products related to weddings, events, medical facilities, and cyber liabilities. This segment also provides public entity-related and specialty programs through a network of independent agents; and program management services for insurance carrier partners. In addition, the company's wholesale brokerage businesses underwrite and place excess and surplus commercial and personal lines insurance through independent agents and brokers. Its programs businesses operate under the Arrowhead Programs' name. Brown & Brown, Inc. was founded in 1939 and is headquartered in Daytona Beach, Florida.
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