Clarius Group LLC Acquires Shares of 2,587 Brown & Brown, Inc. (NYSE:BRO)

Clarius Group LLC bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,587 shares of the financial services provider's stock, valued at approximately $322,000.

Several other large investors also recently added to or reduced their stakes in the business. Gateway Investment Advisers LLC grew its position in Brown & Brown by 2.3% during the first quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider's stock valued at $536,000 after buying an additional 97 shares during the period. Lido Advisors LLC grew its position in Brown & Brown by 2.6% during the fourth quarter. Lido Advisors LLC now owns 4,690 shares of the financial services provider's stock valued at $479,000 after buying an additional 120 shares during the period. Oregon Public Employees Retirement Fund grew its position in Brown & Brown by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,379 shares of the financial services provider's stock valued at $2,079,000 after buying an additional 130 shares during the period. Frank Rimerman Advisors LLC grew its position in Brown & Brown by 4.6% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,265 shares of the financial services provider's stock valued at $333,000 after buying an additional 143 shares during the period. Finally, Nissay Asset Management Corp Japan ADV grew its position in Brown & Brown by 0.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 30,720 shares of the financial services provider's stock valued at $3,161,000 after buying an additional 144 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Price Performance

Shares of NYSE:BRO traded up $2.30 during midday trading on Monday, reaching $110.94. 4,046,580 shares of the company were exchanged, compared to its average volume of 1,699,077. 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 business's fifty day moving average is $111.36 and its two-hundred day moving average is $110.94. Brown & Brown, Inc. has a one year low of $88.31 and a one year high of $125.68. The stock has a market cap of $31.80 billion, a PE ratio of 30.90, a price-to-earnings-growth ratio of 2.38 and a beta of 0.84.

Brown & Brown (NYSE:BRO - Get Free Report) last issued 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 return on equity of 17.77% and a net margin of 20.84%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company posted $1.14 EPS. Brown & Brown's revenue was up 11.6% compared to the same quarter last year. As a group, analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share 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 was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown's dividend payout ratio (DPR) is currently 16.71%.

Analysts Set New Price Targets

BRO has been the subject of several recent research reports. Morgan Stanley restated an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a research report on Tuesday, March 25th. The Goldman Sachs Group cut shares of Brown & Brown from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $126.00 to $119.00 in a research note on Tuesday, May 13th. Barclays increased their price objective 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. Truist Financial reduced their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $127.00 price objective (up from $125.00) on shares of Brown & Brown in a research note on Thursday, June 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $118.85.

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.