Wealthfront Advisers LLC Acquires 2,752 Shares of Brown & Brown, Inc. (NYSE:BRO)

Wealthfront Advisers LLC lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 26.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,189 shares of the financial services provider's stock after acquiring an additional 2,752 shares during the quarter. Wealthfront Advisers LLC's holdings in Brown & Brown were worth $1,641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BRO. Bank Pictet & Cie Europe AG purchased a new stake in Brown & Brown in the fourth quarter worth $907,000. Signaturefd LLC grew its stake in shares of Brown & Brown by 14.3% in the fourth quarter. Signaturefd LLC now owns 1,812 shares of the financial services provider's stock worth $185,000 after acquiring an additional 227 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Brown & Brown in the fourth quarter worth $230,000. Sciencast Management LP purchased a new stake in shares of Brown & Brown in the fourth quarter worth $1,868,000. Finally, Virtu Financial LLC grew its stake in shares of Brown & Brown by 76.9% in the fourth quarter. Virtu Financial LLC now owns 3,791 shares of the financial services provider's stock worth $387,000 after acquiring an additional 1,648 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Stock Performance

BRO stock traded down $0.12 during trading on Wednesday, reaching $103.12. The stock had a trading volume of 2,730,554 shares, compared to its average volume of 1,928,164. Brown & Brown, Inc. has a 52 week low of $96.77 and a 52 week high of $125.68. The stock's 50 day moving average is $108.66 and its two-hundred day moving average is $111.45. 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 firm has a market cap of $29.56 billion, a PE ratio of 28.72, a PEG ratio of 2.26 and a beta of 0.82.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The firm 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 company posted $1.14 EPS. The firm's revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.58%. Brown & Brown's dividend payout ratio (DPR) is currently 16.71%.

Analyst Ratings Changes

BRO has been the topic of a number of recent research reports. Truist Financial cut their target price 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. Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. UBS Group increased their price objective on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, April 9th. Edward Jones began coverage on Brown & Brown in a research report on Wednesday, April 16th. They set a "buy" rating on the stock. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $122.00 price objective (up from $116.00) on shares of Brown & Brown in a research report on Thursday, June 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $118.23.

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.