IFP Advisors Inc Buys 2,789 Shares of Brown & Brown, Inc. (NYSE:BRO)

IFP Advisors Inc raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,429 shares of the financial services provider's stock after purchasing an additional 2,789 shares during the quarter. IFP Advisors Inc's holdings in Brown & Brown were worth $3,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. boosted its stake 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 worth $29,000 after buying an additional 235 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Brown & Brown by 581.8% in the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. Optimum Investment Advisors acquired a new stake in Brown & Brown in the 1st quarter valued at about $31,000. Garde Capital Inc. acquired a new stake in Brown & Brown in the 1st quarter valued at about $46,000. Finally, Cary Street Partners Financial LLC acquired a new stake in Brown & Brown in the 4th quarter valued at about $54,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BRO shares. BMO Capital Markets reaffirmed an "outperform" rating and set a $122.00 target price (up from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. Barclays lowered their target price on shares of 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. Jefferies Financial Group lifted their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Edward Jones began coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They issued a "buy" rating for the company. Finally, Truist Financial decreased their target price on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. One 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $118.23.

Brown & Brown Stock Performance

Shares of BRO stock traded down $0.01 during trading hours on Thursday, reaching $103.18. The company had a trading volume of 1,362,412 shares, compared to its average volume of 2,384,894. The business has a fifty day moving average price of $108.66 and a 200-day moving average price of $111.45. Brown & Brown, Inc. has a one year low of $97.21 and a one year high of $125.68. The firm has a market cap of $29.58 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.26 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 2.52.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its 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). The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 earnings per share. Sell-side 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 announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend 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.