Davidson Kahn Capital Management LLC Increases Position in Brown & Brown, Inc. (NYSE:BRO)

Davidson Kahn Capital Management LLC raised its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 38.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,379 shares of the financial services provider's stock after purchasing an additional 4,303 shares during the period. Brown & Brown comprises about 1.5% of Davidson Kahn Capital Management LLC's investment portfolio, making the stock its 26th largest position. Davidson Kahn Capital Management LLC's holdings in Brown & Brown were worth $1,913,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Gateway Investment Advisers LLC increased its stake in Brown & Brown by 2.3% in the first quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider's stock valued at $536,000 after purchasing an additional 97 shares during the last quarter. Blue Trust Inc. grew its holdings in Brown & Brown by 11.7% in the 1st quarter. Blue Trust Inc. now owns 1,002 shares of the financial services provider's stock valued at $125,000 after buying an additional 105 shares during the period. Lido Advisors LLC increased its stake in shares of Brown & Brown by 2.6% during the 4th quarter. Lido Advisors LLC now owns 4,690 shares of the financial services provider's stock valued at $479,000 after acquiring an additional 120 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Brown & Brown by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,379 shares of the financial services provider's stock worth $2,079,000 after acquiring an additional 130 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its holdings in shares of Brown & Brown by 4.6% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,265 shares of the financial services provider's stock worth $333,000 after acquiring an additional 143 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BRO has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Brown & Brown from $100.00 to $102.00 and gave the company an "underperform" rating in a report on Friday, June 13th. Barclays boosted 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 note on Friday, April 11th. Edward Jones started coverage on Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating on the stock. Morgan Stanley reiterated an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Finally, Truist Financial dropped their price target on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of "Hold" and a consensus price target of $118.85.

Brown & Brown Stock Down 2.3%

Shares of BRO traded down $2.56 during midday trading on Wednesday, reaching $108.39. 3,104,055 shares of the company were exchanged, compared to its average volume of 1,715,247. Brown & Brown, Inc. has a 1-year low of $88.31 and a 1-year high of $125.68. The stock has a 50-day moving average price of $111.19 and a 200-day moving average price of $110.94. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. The company has a market cap of $31.07 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 2.45 and a beta of 0.84.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). The company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 earnings per share. Research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were given a dividend of $0.15 per share. The ex-dividend date was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. Brown & Brown's payout ratio is currently 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.