Brown Miller Wealth Management LLC Takes Position in Brown & Brown, Inc. (NYSE:BRO)

Brown Miller Wealth Management LLC bought a new stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,071 shares of the financial services provider's stock, valued at approximately $631,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Brown & Brown by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after purchasing an additional 1,335,964 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Brown & Brown by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock valued at $1,316,259,000 after purchasing an additional 94,121 shares during the period. Geode Capital Management LLC grew its holdings in shares of Brown & Brown by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider's stock valued at $620,737,000 after purchasing an additional 118,569 shares during the period. Capital World Investors grew its holdings in shares of Brown & Brown by 15.6% in the fourth quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider's stock valued at $428,043,000 after purchasing an additional 566,116 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Brown & Brown by 11.4% in the fourth quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider's stock valued at $388,045,000 after purchasing an additional 388,411 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Down 0.2%

NYSE BRO opened at $106.63 on Monday. The stock has a market cap of $30.57 billion, a PE ratio of 30.82, a P/E/G ratio of 2.93 and a beta of 0.84. Brown & Brown, Inc. has a fifty-two week low of $88.31 and a fifty-two week high of $125.68. The business has a 50 day moving average price of $112.38 and a two-hundred day moving average price of $111.05. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO - Get Free Report) last released 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 business had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 earnings per share. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BRO shares. Jefferies Financial Group upped their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a report on Friday, April 11th. BMO Capital Markets upped their price objective on shares of Brown & Brown from $116.00 to $122.00 and gave the company an "outperform" rating in a report on Thursday. UBS Group increased their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 9th. Edward Jones started coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating for the company. Finally, Barclays increased their target price on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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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