Clarius Group LLC Takes $322,000 Position in Brown & Brown, Inc. (NYSE:BRO)

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

Several other hedge funds have also recently bought and sold shares of BRO. QRG Capital Management Inc. raised its position in Brown & Brown by 15.6% during the first quarter. QRG Capital Management Inc. now owns 23,331 shares of the financial services provider's stock worth $2,902,000 after acquiring an additional 3,141 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new stake in shares of Brown & Brown in the first quarter valued at approximately $454,000. Sowell Financial Services LLC purchased a new position in shares of Brown & Brown during the 1st quarter worth approximately $711,000. Brown Miller Wealth Management LLC acquired a new position in shares of Brown & Brown during the 1st quarter worth approximately $631,000. Finally, Cyndeo Wealth Partners LLC lifted its stake in Brown & Brown by 16.6% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 14,235 shares of the financial services provider's stock valued at $1,771,000 after buying an additional 2,027 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Trading Up 0.4%

Shares of BRO stock traded up $0.43 on Friday, reaching $108.72. 4,338,268 shares of the stock were exchanged, compared to its average volume of 1,687,424. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.55. The stock has a market cap of $31.17 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 2.38 and a beta of 0.84. The firm has a 50 day moving average of $111.77 and a two-hundred day moving average of $110.94. Brown & Brown, Inc. has a 1-year low of $88.31 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 20.84% and a return on equity of 17.77%. Brown & Brown's revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. On average, research analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's payout ratio is currently 16.71%.

Analyst Upgrades and Downgrades

BRO has been the subject of several recent research reports. Edward Jones began coverage on Brown & Brown in a research report on Wednesday, April 16th. They set a "buy" rating for the company. BMO Capital Markets reaffirmed an "outperform" rating and set a $122.00 price target (up from $116.00) on shares of Brown & Brown in a research note on Thursday, June 12th. The Goldman Sachs Group lowered shares of Brown & Brown from a "buy" rating to a "neutral" rating and cut their price objective for the company from $126.00 to $119.00 in a research report on Tuesday, May 13th. 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. Finally, Jefferies Financial Group lifted their target price on shares of 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 assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $118.85.

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.