Focus Partners Wealth Buys 6,090 Shares of Brown & Brown, Inc. (NYSE:BRO)

Focus Partners Wealth increased its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 135.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,602 shares of the financial services provider's stock after purchasing an additional 6,090 shares during the period. Focus Partners Wealth's holdings in Brown & Brown were worth $1,082,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Brown & Brown by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after acquiring an additional 1,335,964 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Brown & Brown by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock worth $1,316,259,000 after purchasing an additional 94,121 shares during the last quarter. Geode Capital Management LLC boosted its position in Brown & Brown by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider's stock worth $620,737,000 after purchasing an additional 118,569 shares during the period. Capital World Investors grew its holdings in Brown & Brown by 15.6% during the fourth quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider's stock valued at $428,043,000 after purchasing an additional 566,116 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Brown & Brown by 11.4% during the fourth quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider's stock valued at $388,045,000 after purchasing an additional 388,411 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

BRO traded down $1.52 during trading on Wednesday, reaching $110.93. 2,345,070 shares of the company's stock were exchanged, compared to its average volume of 1,482,134. The company has a market capitalization of $31.79 billion, a P/E ratio of 32.06, a PEG ratio of 2.93 and a beta of 0.87. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average price of $116.05 and a 200 day moving average price of $111.15. Brown & Brown, Inc. has a fifty-two week low of $85.97 and a fifty-two week high of $125.68.

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 the consensus estimate of $1.30 by ($0.01). The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Brown & Brown's revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 earnings per share. As a group, analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown's dividend payout ratio is currently 16.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. 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. The Goldman Sachs Group lowered shares of Brown & Brown from a "buy" rating to a "neutral" rating and cut their target price for the stock from $126.00 to $119.00 in a research report on Tuesday, May 13th. UBS Group raised their price target on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, April 9th. Wells Fargo & Company boosted their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, Barclays increased their target price on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Brown & Brown currently has a consensus rating of "Hold" and an average price target of $116.85.

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.