Ibex Wealth Advisors Buys 6,359 Shares of Brown & Brown, Inc. (NYSE:BRO)

Ibex Wealth Advisors grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 10.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,087 shares of the financial services provider's stock after purchasing an additional 6,359 shares during the quarter. Ibex Wealth Advisors' holdings in Brown & Brown were worth $8,470,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Kohmann Bosshard Financial Services LLC bought a new stake in Brown & Brown during the fourth quarter valued at about $28,000. Johnson Financial Group Inc. lifted its position in shares of Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after buying an additional 235 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after buying an additional 256 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Brown & Brown during the 4th quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Brown & Brown by 79.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider's stock worth $50,000 after acquiring an additional 217 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Price Performance

Shares of BRO stock traded up $2.40 during trading hours on Thursday, hitting $106.88. The stock had a trading volume of 8,394,507 shares, compared to its average volume of 1,973,675. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $30.63 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 2.93 and a beta of 0.84. Brown & Brown, Inc. has a one year low of $88.31 and a one year high of $125.68. The stock's 50-day moving average price is $112.61 and its two-hundred day moving average price is $111.16.

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 (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The firm's revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. Equities analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.56%. Brown & Brown's dividend payout ratio (DPR) is currently 16.71%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BRO shares. Edward Jones started coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They set a "buy" rating on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an "underperform" rating on the stock in a research report on Monday, May 5th. UBS Group lifted their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, April 9th. BMO Capital Markets upped their target price on shares of Brown & Brown from $116.00 to $122.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Jefferies Financial Group increased their price target on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $118.69.

Brown & Brown Company Profile

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.