Capital A Wealth Management LLC Purchases New Holdings in Brown & Brown, Inc. (NYSE:BRO)

Capital A Wealth Management LLC acquired a new stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,365 shares of the financial services provider's stock, valued at approximately $241,000.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Brown & Brown during the 4th quarter valued at approximately $313,412,000. First Trust Advisors LP lifted its position in shares of Brown & Brown by 626.6% during the 4th 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 acquired a new stake in shares of Brown & Brown during the 4th quarter valued at approximately $198,031,000. Vanguard Group Inc. lifted its position in shares of Brown & Brown by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after acquiring an additional 1,335,964 shares during the period. Finally, Proficio Capital Partners LLC raised its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Performance

BRO traded up $1.12 on Friday, hitting $112.82. 2,048,769 shares of the company's stock were exchanged, compared to its average volume of 1,487,397. The firm has a market cap of $32.34 billion, a PE ratio of 32.61, a P/E/G ratio of 2.93 and a beta of 0.87. Brown & Brown, Inc. has a twelve month low of $87.88 and a twelve month high of $125.68. The stock has a fifty day moving average of $114.70 and a two-hundred day moving average of $111.21. 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 (NYSE:BRO - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). The business had revenue of $1.40 billion for 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 revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS. On average, research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were paid a $0.15 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.53%. Brown & Brown's payout ratio is currently 16.71%.

Analyst Upgrades and Downgrades

BRO has been the subject of several research reports. Truist Financial cut their price objective on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Jefferies Financial Group upped their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. Barclays upped their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. Finally, The Goldman Sachs Group cut shares of Brown & Brown from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $126.00 to $119.00 in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $116.85.

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.