EP Wealth Advisors LLC Sells 3,112 Shares of Brown & Brown, Inc. (NYSE:BRO)

EP Wealth Advisors LLC lessened its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 24.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,366 shares of the financial services provider's stock after selling 3,112 shares during the period. EP Wealth Advisors LLC's holdings in Brown & Brown were worth $956,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Brown & Brown in the fourth quarter worth about $28,000. Johnson Financial Group Inc. lifted its position in shares of Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after buying an additional 235 shares in the last quarter. Y.D. More Investments Ltd lifted its position in shares of Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after buying an additional 162 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Brown & Brown in the fourth quarter worth about $31,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Brown & Brown in the fourth quarter worth about $37,000. Institutional investors own 71.01% of the company's stock.

Analysts Set New Price Targets

BRO has been the topic of a number of research analyst reports. Morgan Stanley reiterated an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a research report on Tuesday, March 25th. Jefferies Financial Group upped their price objective on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research report on Friday, April 11th. Truist Financial decreased their price objective on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Edward Jones started coverage on Brown & Brown in a research report on Wednesday, April 16th. They set a "buy" rating on the stock. Finally, Barclays upped their price objective on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Brown & Brown has a consensus rating of "Hold" and an average target price of $116.85.

Brown & Brown Trading Up 0.9%

Shares of BRO traded up $1.04 during mid-day trading on Friday, reaching $111.60. 366,942 shares of the company's stock traded hands, compared to its average volume of 1,468,253. The stock has a market cap of $31.99 billion, a P/E ratio of 32.25, a P/E/G ratio of 2.93 and a beta of 0.87. The stock's 50-day moving average is $116.39 and its two-hundred day moving average is $110.96. Brown & Brown, Inc. has a 12 month low of $85.97 and a 12 month high of $125.68. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

Brown & Brown (NYSE:BRO - Get Free Report) last released its earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the company posted $1.14 EPS. The company's quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be paid a $0.15 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown's dividend payout ratio (DPR) is currently 16.71%.

Brown & Brown 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.