17,645 Shares in Brown & Brown, Inc. (NYSE:BRO) Acquired by Ameriflex Group Inc.

Ameriflex Group Inc. purchased a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,645 shares of the financial services provider's stock, valued at approximately $1,847,000. Brown & Brown makes up approximately 0.8% of Ameriflex Group Inc.'s holdings, making the stock its 21st biggest holding.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC lifted its position in shares of Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock worth $255,537,000 after buying an additional 371,980 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of Brown & Brown in the fourth quarter worth about $203,000. Mutual Advisors LLC lifted its position in shares of Brown & Brown by 13.1% in the fourth quarter. Mutual Advisors LLC now owns 3,517 shares of the financial services provider's stock worth $373,000 after buying an additional 407 shares during the last quarter. CX Institutional lifted its position in shares of Brown & Brown by 0.9% in the fourth quarter. CX Institutional now owns 19,652 shares of the financial services provider's stock worth $2,005,000 after buying an additional 167 shares during the last quarter. Finally, Tributary Capital Management LLC lifted its position in shares of Brown & Brown by 16.3% during the 4th quarter. Tributary Capital Management LLC now owns 13,596 shares of the financial services provider's stock worth $1,387,000 after purchasing an additional 1,905 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Price Performance

NYSE:BRO traded down $1.23 during mid-day trading on Wednesday, reaching $110.85. The stock had a trading volume of 1,268,583 shares, compared to its average volume of 1,484,455. The stock has a 50-day simple moving average of $115.06 and a two-hundred day simple moving average of $111.21. The stock has a market capitalization of $31.77 billion, a PE ratio of 32.04, a P/E/G ratio of 2.93 and a beta of 0.87. 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, Inc. has a 12 month low of $85.97 and a 12 month high of $125.68.

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 the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the firm earned $1.14 EPS. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

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

Wall Street Analyst Weigh In

BRO has been the subject of several research analyst reports. Morgan Stanley reissued an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Keefe, Bruyette & Woods cut their price objective on Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a research report on Monday, May 5th. UBS Group boosted their price objective on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 9th. Bank of America boosted their price target on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Finally, Truist Financial lowered their price target on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. One 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 MarketBeat, Brown & Brown currently has a consensus 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.