Capital Investment Advisors LLC Makes New Investment in Brown & Brown, Inc. (NYSE:BRO)

Capital Investment Advisors LLC purchased a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,503 shares of the financial services provider's stock, valued at approximately $1,929,000.

Other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its holdings in Brown & Brown by 395.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider's stock valued at $3,489,000 after purchasing an additional 27,297 shares during the last quarter. National Bank of Canada FI raised its position in shares of Brown & Brown by 56.8% in the fourth quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider's stock valued at $19,365,000 after purchasing an additional 68,745 shares during the period. FORA Capital LLC bought a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $580,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Brown & Brown by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider's stock valued at $138,394,000 after buying an additional 40,881 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Brown & Brown by 19.9% in the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider's stock worth $31,055,000 after buying an additional 50,510 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Trading Up 0.6%

Shares of BRO opened at $110.65 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a 1-year low of $88.31 and a 1-year high of $125.68. The company has a market capitalization of $31.71 billion, a P/E ratio of 31.98, a P/E/G ratio of 2.93 and a beta of 0.84. The firm's 50 day simple moving average is $113.53 and its 200 day simple moving average is $111.27.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter last year, the business posted $1.14 EPS. The business's quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were given a $0.15 dividend. 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 0.54%. Brown & Brown's payout ratio is 16.71%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BRO shares. Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a research note on Monday, May 5th. Edward Jones assumed coverage on Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating on the stock. Morgan Stanley reissued an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. Truist Financial reduced their target price on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Barclays upped their price target on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $118.25.

Brown & Brown 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.

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