Brown & Brown, Inc. (NYSE:BRO) is Elser Financial Planning Inc's 4th Largest Position

Elser Financial Planning Inc reduced its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 17.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,560 shares of the financial services provider's stock after selling 6,275 shares during the period. Brown & Brown makes up 5.1% of Elser Financial Planning Inc's portfolio, making the stock its 4th largest holding. Elser Financial Planning Inc's holdings in Brown & Brown were worth $3,677,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BRO. Norges Bank purchased a new position in shares of Brown & Brown in the 4th quarter worth $313,412,000. First Trust Advisors LP lifted its holdings in shares of Brown & Brown by 626.6% in the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock worth $239,751,000 after acquiring an additional 2,026,589 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in shares of Brown & Brown in the 4th quarter worth about $198,031,000. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 1,335,964 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Brown & Brown by 13,974.9% in the 1st quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider's stock worth $138,427,000 after acquiring an additional 1,104,852 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Stock Up 0.4%

Shares of NYSE BRO opened at $108.72 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 2.52. The firm has a market capitalization of $31.17 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 2.38 and a beta of 0.84. The stock has a 50 day moving average price of $111.56 and a 200 day moving average price of $110.92. Brown & Brown, Inc. has a 52-week low of $88.31 and a 52-week high of $125.68.

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

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. Brown & Brown's dividend payout ratio is currently 16.71%.

Wall Street Analyst Weigh In

BRO has been the subject of several analyst reports. Morgan Stanley restated an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. BMO Capital Markets restated an "outperform" rating and issued a $122.00 target price (up previously from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. Keefe, Bruyette & Woods raised their target price on shares of Brown & Brown from $100.00 to $102.00 and gave the stock an "underperform" rating in a report on Friday, June 13th. Edward Jones initiated coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They issued a "buy" rating for the company. Finally, Truist Financial lowered their target price on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $118.85.

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.

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