Prevail Innovative Wealth Advisors LLC Sells 3,953 Shares of Brown & Brown, Inc. (NYSE:BRO)

Prevail Innovative Wealth Advisors LLC trimmed its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 22.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,490 shares of the financial services provider's stock after selling 3,953 shares during the quarter. Prevail Innovative Wealth Advisors LLC's holdings in Brown & Brown were worth $1,678,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after acquiring an additional 1,335,964 shares during the period. Principal Financial Group Inc. raised its holdings in Brown & Brown by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 12,940,046 shares of the financial services provider's stock valued at $1,609,742,000 after acquiring an additional 38,078 shares during the period. Geode Capital Management LLC raised its holdings in Brown & Brown by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider's stock valued at $620,737,000 after acquiring an additional 118,569 shares during the period. Capital World Investors increased its holdings in shares of Brown & Brown by 15.6% during the fourth quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider's stock worth $428,043,000 after purchasing an additional 566,116 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Brown & Brown by 11.4% during the fourth quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider's stock worth $388,045,000 after purchasing an additional 388,411 shares during the period. 71.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BRO. UBS Group raised 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. Truist Financial lowered their target price on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $127.00 target price (up from $125.00) on shares of Brown & Brown in a report on Thursday, June 12th. Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $122.00 target price (up from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $118.23.

Brown & Brown Stock Performance

NYSE BRO opened at $108.01 on Tuesday. 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 firm has a market capitalization of $30.97 billion, a price-to-earnings ratio of 30.09, a P/E/G ratio of 2.34 and a beta of 0.82. The firm's 50 day simple moving average is $109.61 and its 200 day simple moving average is $111.43. Brown & Brown, Inc. has a 1 year low of $92.29 and a 1 year high of $125.68.

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

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.56%. Brown & Brown's dividend payout ratio (DPR) 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.

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