Ferguson Wellman Capital Management Inc. Has $38.83 Million Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Ferguson Wellman Capital Management Inc. increased its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 312,116 shares of the financial services provider's stock after acquiring an additional 7,725 shares during the period. Ferguson Wellman Capital Management Inc. owned about 0.11% of Brown & Brown worth $38,827,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $28,000. Johnson Financial Group Inc. boosted its holdings in shares of Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 235 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 256 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Brown & Brown during the 4th quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Brown & Brown by 79.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. The Goldman Sachs Group lowered Brown & Brown from a "buy" rating to a "neutral" rating and cut their price target for the company from $126.00 to $119.00 in a research note on Tuesday, May 13th. Morgan Stanley reiterated an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. Edward Jones started coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They set a "buy" rating on the stock. Truist Financial cut their target price on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods lifted their target price on Brown & Brown from $100.00 to $102.00 and gave the stock an "underperform" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Brown & Brown presently has a consensus rating of "Hold" and a consensus target price of $118.85.

Brown & Brown Trading Up 0.4%

Shares of NYSE:BRO traded up $0.45 during midday trading on Friday, reaching $107.25. The company's stock had a trading volume of 3,559,062 shares, compared to its average volume of 1,621,916. The firm has a market capitalization of $30.74 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 2.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a 50 day moving average price of $112.49 and a two-hundred day moving average price of $111.12. Brown & Brown, Inc. has a fifty-two week low of $88.31 and a fifty-two week high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) 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 business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the firm posted $1.14 earnings per share. Brown & Brown's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.56%. Brown & Brown's dividend payout ratio is currently 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.