Sagespring Wealth Partners LLC Purchases Shares of 3,653 Brown & Brown, Inc. (NYSE:BRO)

Sagespring Wealth Partners LLC purchased a new stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,653 shares of the financial services provider's stock, valued at approximately $454,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown in the 4th quarter valued at approximately $28,000. Johnson Financial Group Inc. increased its position in Brown & Brown by 534.1% in the 4th 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. increased its position in Brown & Brown by 581.8% in 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 position in Brown & Brown in the 4th quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC increased its position in Brown & Brown by 79.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 217 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BRO. Truist Financial reduced their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Edward Jones began coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They issued a "buy" rating on the stock. BMO Capital Markets reaffirmed an "outperform" rating and issued a $122.00 price objective (up from $116.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $127.00 price objective (up from $125.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Finally, Jefferies Financial Group upped their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $118.85.

Brown & Brown Stock Up 0.2%

Shares of NYSE BRO opened at $108.31 on Thursday. The firm has a market cap of $31.05 billion, a PE ratio of 30.17, a P/E/G ratio of 2.37 and a beta of 0.84. Brown & Brown, Inc. has a 12-month low of $88.31 and a 12-month high of $125.68. The company's fifty day simple moving average is $111.94 and its 200 day simple moving average 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.

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

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is 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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