Dorsey Wright & Associates Acquires 3,171 Shares of Brown & Brown, Inc. (NYSE:BRO)

Dorsey Wright & Associates raised its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 9.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,306 shares of the financial services provider's stock after purchasing an additional 3,171 shares during the period. Brown & Brown accounts for approximately 1.2% of Dorsey Wright & Associates' holdings, making the stock its 25th biggest position. Dorsey Wright & Associates' holdings in Brown & Brown were worth $4,641,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Johnson Financial Group Inc. lifted its holdings in Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after purchasing an additional 235 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Brown & Brown by 581.8% in the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock worth $31,000 after acquiring an additional 256 shares during the period. Optimum Investment Advisors bought a new position in shares of Brown & Brown in the first quarter valued at approximately $31,000. Garde Capital Inc. bought a new position in shares of Brown & Brown in the first quarter valued at approximately $46,000. Finally, GW&K Investment Management LLC increased its stake in shares of Brown & Brown by 104.4% during the first quarter. GW&K Investment Management LLC now owns 419 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 214 shares during the period. Institutional investors own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on Brown & Brown from $102.00 to $104.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 9th. BMO Capital Markets restated an "outperform" rating and issued a $122.00 price objective (up previously from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. Barclays decreased their target price on Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. Truist Financial cut their price target on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group lowered shares of Brown & Brown from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $126.00 to $119.00 in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and an average target price of $118.23.

Brown & Brown Stock Down 0.3%

BRO traded down $0.28 during midday trading on Thursday, hitting $102.90. 3,159,845 shares of the company's stock traded hands, compared to its average volume of 3,709,608. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.52 and a quick ratio of 2.52. The company has a market cap of $29.50 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 2.26 and a beta of 0.82. The stock's fifty day simple moving average is $108.66 and its 200-day simple moving average is $111.45. Brown & Brown, Inc. has a one year low of $97.21 and a one year high of $125.68.

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 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 business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The company's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 13th. This represents a $0.60 annualized dividend and a yield of 0.58%. Brown & Brown's dividend payout ratio (DPR) is presently 16.71%.

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.