Insight Wealth Strategies LLC lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 39.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 36,524 shares of the financial services provider's stock after acquiring an additional 10,301 shares during the period. Insight Wealth Strategies LLC's holdings in Brown & Brown were worth $4,544,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of BRO. Kohmann Bosshard Financial Services LLC bought a new position in Brown & Brown in the 4th quarter valued at about $28,000. Johnson Financial Group Inc. lifted its holdings in Brown & Brown by 534.1% in 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 during the last quarter. Y.D. More Investments Ltd lifted its holdings in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 162 shares during the last quarter. R Squared Ltd acquired a new stake in Brown & Brown in the 4th quarter valued at about $31,000. Finally, Sunbelt Securities Inc. lifted its holdings 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 acquiring an additional 256 shares during the last quarter. Institutional investors own 71.01% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Barclays upped their price target on shares of Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Morgan Stanley reissued an "equal weight" rating and issued a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. UBS Group upped their price target on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. 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. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $116.85.
Read Our Latest Stock Analysis on BRO
Brown & Brown Stock Up 1.0%
Shares of NYSE BRO traded up $1.12 during mid-day trading on Friday, reaching $112.82. The company had a trading volume of 2,048,769 shares, compared to its average volume of 1,487,397. The stock has a fifty day moving average of $114.70 and a two-hundred day moving average of $111.21. Brown & Brown, Inc. has a 12-month low of $87.88 and a 12-month high of $125.68. The company has a market capitalization of $32.34 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 2.93 and a beta of 0.87. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.
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 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 20.68% and a return on equity of 17.81%. Brown & Brown's revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 EPS. As a group, equities research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.
Brown & Brown Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's payout ratio is presently 16.71%.
Brown & Brown Profile
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Free Report)
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.
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