Brown & Brown, Inc. (NYSE:BRO) Stock Holdings Boosted by Moran Wealth Management LLC

Moran Wealth Management LLC raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 282.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,317 shares of the financial services provider's stock after buying an additional 82,234 shares during the quarter. Moran Wealth Management LLC's holdings in Brown & Brown were worth $13,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in BRO. Kohmann Bosshard Financial Services LLC purchased a new stake in Brown & Brown during the fourth quarter worth $28,000. Johnson Financial Group Inc. lifted its holdings in Brown & Brown by 534.1% in the fourth 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 period. Sunbelt Securities Inc. grew its position in shares of Brown & Brown by 581.8% during 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 period. SBI Securities Co. Ltd. acquired a new stake in Brown & Brown in the 4th quarter valued at $37,000. Finally, Garde Capital Inc. acquired a new stake in Brown & Brown in the 1st quarter worth about $46,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BRO shares. Morgan Stanley restated an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. Truist Financial lowered 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 note on Wednesday, April 30th. Jefferies Financial Group upped their target price on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company reiterated an "overweight" rating and issued a $127.00 target price (up from $125.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Finally, Barclays upped their target price on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $118.85.

Brown & Brown Stock Up 1.0%

NYSE:BRO traded up $1.13 on Thursday, reaching $109.51. The stock had a trading volume of 4,156,664 shares, compared to its average volume of 1,727,524. Brown & Brown, Inc. has a 12-month low of $88.31 and a 12-month high of $125.68. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. The stock has a market cap of $31.40 billion, a P/E ratio of 30.51, a price-to-earnings-growth ratio of 2.43 and a beta of 0.84. The company has a 50-day moving average of $110.98 and a 200 day moving average of $110.92.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 EPS. On average, research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.55%. Brown & Brown's dividend payout ratio 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.