Legacy Financial Strategies LLC Has $4.45 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Legacy Financial Strategies LLC trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 14.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,801 shares of the financial services provider's stock after selling 6,172 shares during the quarter. Brown & Brown accounts for 1.0% of Legacy Financial Strategies LLC's holdings, making the stock its 16th biggest position. Legacy Financial Strategies LLC's holdings in Brown & Brown were worth $4,454,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Brown & Brown by 395.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider's stock worth $3,489,000 after acquiring an additional 27,297 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Brown & Brown by 56.8% during the 4th quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider's stock worth $19,365,000 after acquiring an additional 68,745 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $580,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Brown & Brown by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider's stock valued at $138,394,000 after buying an additional 40,881 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Brown & Brown by 19.9% in the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider's stock valued at $31,055,000 after buying an additional 50,510 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Truist Financial cut their price objective on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Morgan Stanley reissued an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. UBS Group increased their price objective on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. Barclays increased their price objective on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Finally, The Goldman Sachs Group downgraded Brown & Brown from a "buy" rating to a "neutral" rating and cut their price objective for the company from $126.00 to $119.00 in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Brown & Brown has a consensus rating of "Hold" and a consensus target price of $118.25.

Brown & Brown Price Performance

Brown & Brown stock traded up $0.47 during midday trading on Monday, reaching $113.37. The company's stock had a trading volume of 1,028,572 shares, compared to its average volume of 1,484,059. Brown & Brown, Inc. has a 52 week low of $88.09 and a 52 week high of $125.68. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $114.70 and a 200-day moving average price of $111.22. The stock has a market cap of $32.49 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87.

Brown & Brown (NYSE:BRO - Get Free Report) last released its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The business's revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's dividend payout ratio is presently 16.71%.

Brown & Brown 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.