Benjamin Edwards Inc. Has $9.54 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Benjamin Edwards Inc. reduced its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,492 shares of the financial services provider's stock after selling 2,291 shares during the quarter. Benjamin Edwards Inc.'s holdings in Brown & Brown were worth $9,538,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in Brown & Brown during the 4th quarter worth about $313,412,000. First Trust Advisors LP raised its holdings in shares of Brown & Brown by 626.6% during the fourth quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock valued at $239,751,000 after acquiring an additional 2,026,589 shares during the period. Madison Investment Advisors LLC purchased a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $198,031,000. Vanguard Group Inc. boosted its stake in Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after purchasing an additional 1,335,964 shares during the period. Finally, Proficio Capital Partners LLC grew its position in Brown & Brown by 11,337.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider's stock worth $1,109,000 after purchasing an additional 1,099,199 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Jefferies Financial Group raised their target price on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Barclays upped their target price on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. UBS Group boosted their price objective on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, April 9th. Bank of America increased their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Finally, Truist Financial lowered their price target on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $116.67.

Brown & Brown Stock Up 0.9 %

Shares of NYSE BRO traded up $0.95 during mid-day trading on Wednesday, reaching $111.33. 1,372,871 shares of the company traded hands, compared to its average volume of 1,466,229. The company's fifty day moving average is $117.47 and its two-hundred day moving average is $110.74. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a fifty-two week low of $84.53 and a fifty-two week high of $125.68. The stock has a market cap of $31.91 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Brown & Brown's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. On average, analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. Brown & Brown's payout ratio is presently 16.71%.

About Brown & Brown

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.