Parr Mcknight Wealth Management Group LLC Invests $1.25 Million in Brown & Brown, Inc. (NYSE:BRO)

Parr Mcknight Wealth Management Group LLC bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 12,271 shares of the financial services provider's stock, valued at approximately $1,252,000.

Several other institutional investors have also recently added to or reduced their stakes in BRO. Sunbelt Securities Inc. grew its position in shares of Brown & Brown by 581.8% during the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock worth $31,000 after acquiring an additional 256 shares during the last quarter. GTS Securities LLC bought a new position in shares of Brown & Brown during the fourth quarter worth about $220,000. Orion Capital Management LLC bought a new position in shares of Brown & Brown during the fourth quarter worth about $82,000. Novem Group bought a new position in shares of Brown & Brown during the fourth quarter worth about $771,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Brown & Brown by 18.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,566,264 shares of the financial services provider's stock worth $159,790,000 after acquiring an additional 240,188 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Trading Down 1.1%

BRO stock traded down $1.23 during mid-day trading on Wednesday, reaching $110.85. 1,268,576 shares of the stock traded hands, compared to its average volume of 1,484,791. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 52-week low of $85.97 and a 52-week high of $125.68. The company has a market cap of $31.77 billion, a P/E ratio of 32.04, a P/E/G ratio of 2.93 and a beta of 0.87. The stock's fifty day moving average is $115.21 and its 200-day moving average is $111.21.

Brown & Brown (NYSE:BRO - Get Free Report) last posted 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). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same period in the prior year, the company posted $1.14 earnings per share. Brown & Brown's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts expect 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. Shareholders of record on Monday, May 12th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, May 12th. Brown & Brown's dividend payout ratio is presently 16.71%.

Analysts Set New Price Targets

BRO has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Edward Jones started coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They issued a "buy" rating for the company. Jefferies Financial Group lifted their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Truist Financial cut 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. Finally, Morgan Stanley reissued an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Brown & Brown has a consensus rating of "Hold" and an average target price of $116.85.

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.