Patton Fund Management Inc. Has $3.88 Million Position in Brown & Brown, Inc. (NYSE:BRO)

Patton Fund Management Inc. trimmed its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 22.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,151 shares of the financial services provider's stock after selling 9,228 shares during the quarter. Patton Fund Management Inc.'s holdings in Brown & Brown were worth $3,875,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Brown & Brown in the fourth quarter valued at about $313,412,000. First Trust Advisors LP increased its stake in shares of Brown & Brown by 626.6% in the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock valued at $239,751,000 after acquiring an additional 2,026,589 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $198,031,000. Vanguard Group Inc. grew its holdings in Brown & Brown by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after purchasing an additional 1,335,964 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Brown & Brown by 13,974.9% during the first quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider's stock valued at $138,427,000 after purchasing an additional 1,104,852 shares during the period. 71.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BRO has been the subject of several recent analyst reports. Edward Jones started coverage on Brown & Brown in a report on Wednesday, April 16th. They issued a "buy" rating for the company. Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. UBS Group increased their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, April 9th. Barclays lifted their price target on shares of Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Finally, 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. One equities research 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. According to data from MarketBeat.com, Brown & Brown currently has a consensus rating of "Hold" and a consensus target price of $118.85.

Brown & Brown Stock Performance

Shares of BRO stock traded up $0.19 during trading on Wednesday, reaching $108.31. 3,705,520 shares of the company's stock were exchanged, compared to its average volume of 1,676,819. Brown & Brown, Inc. has a twelve month low of $88.31 and a twelve month high of $125.68. The firm's fifty day moving average price is $111.94 and its 200-day moving average price is $110.96. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $31.05 billion, a PE ratio of 30.17, a PEG ratio of 2.37 and a beta of 0.84.

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 the consensus estimate of $1.30 by ($0.01). The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. Brown & Brown's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. As a group, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were given a dividend of $0.15 per share. The ex-dividend date was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.55%. 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.