J.W. Cole Advisors Inc. Grows Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

J.W. Cole Advisors Inc. boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 226.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,793 shares of the financial services provider's stock after purchasing an additional 4,712 shares during the period. J.W. Cole Advisors Inc.'s holdings in Brown & Brown were worth $845,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Phillips Wealth Planners LLC raised its position in shares of Brown & Brown by 3.4% during the 1st quarter. Phillips Wealth Planners LLC now owns 2,659 shares of the financial services provider's stock valued at $316,000 after purchasing an additional 88 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Brown & Brown by 26.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 454 shares of the financial services provider's stock valued at $56,000 after buying an additional 96 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Brown & Brown by 2.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider's stock valued at $536,000 after purchasing an additional 97 shares in the last quarter. Graypoint LLC raised its stake in shares of Brown & Brown by 3.3% during the 1st quarter. Graypoint LLC now owns 3,208 shares of the financial services provider's stock worth $399,000 after acquiring an additional 103 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Brown & Brown by 11.7% during the 1st quarter. Blue Trust Inc. now owns 1,002 shares of the financial services provider's stock valued at $125,000 after purchasing an additional 105 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BRO. Keefe, Bruyette & Woods increased their price target on shares of Brown & Brown from $102.00 to $104.00 and gave the stock an "underperform" rating in a report on Wednesday, July 9th. The Goldman Sachs Group cut Brown & Brown from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $126.00 to $119.00 in a research note on Tuesday, May 13th. Jefferies Financial Group lifted their price target on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a report on Friday, April 11th. Truist Financial dropped their price target on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Barclays reduced their price objective on Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. One equities 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's stock. According to data from MarketBeat.com, Brown & Brown currently has an average rating of "Hold" and a consensus target price of $118.23.

Brown & Brown Price Performance

BRO traded up $0.60 during trading on Friday, reaching $103.38. The stock had a trading volume of 3,136,298 shares, compared to its average volume of 3,659,817. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 2.52. The stock has a market cap of $29.64 billion, a PE ratio of 28.80, a PEG ratio of 2.25 and a beta of 0.82. Brown & Brown, Inc. has a one year low of $97.61 and a one year high of $125.68. The business has a 50-day moving average of $108.51 and a 200-day moving average of $111.46.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The company had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter last year, the business earned $1.14 earnings per share. The business's quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 13th will be issued a $0.15 dividend. The ex-dividend date of this dividend 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%.

Brown & Brown Company Profile

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.