Silver Oak Securities Incorporated Invests $646,000 in Brown & Brown, Inc. (NYSE:BRO)

Silver Oak Securities Incorporated acquired a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,254 shares of the financial services provider's stock, valued at approximately $646,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 1,335,964 shares in the last quarter. Geode Capital Management LLC boosted its stake in Brown & Brown by 2.0% in the fourth 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 in the last quarter. Capital World Investors grew its holdings in Brown & Brown by 15.6% in 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 last quarter. Invesco Ltd. increased its position 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 in the last quarter. Finally, Norges Bank purchased a new stake in shares of Brown & Brown during the 4th quarter valued at $313,412,000. Institutional investors own 71.01% of the company's stock.

Brown & Brown Trading Up 0.2%

NYSE BRO opened at $108.31 on Friday. Brown & Brown, Inc. has a 1 year low of $88.31 and a 1 year high of $125.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.52 and a quick ratio of 2.52. The company has a market capitalization of $31.05 billion, a PE ratio of 30.17, a P/E/G ratio of 2.38 and a beta of 0.84. The company has a fifty day moving average of $111.77 and a 200 day moving average of $110.94.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter in the previous year, the business posted $1.14 EPS. The business's quarterly revenue was up 11.6% on a year-over-year basis. Research analysts forecast 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. Stockholders of record on Monday, May 12th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. Brown & Brown's payout ratio is 16.71%.

Wall Street Analyst Weigh In

BRO has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on Brown & Brown from $100.00 to $102.00 and gave the stock an "underperform" rating in a research note on Friday, June 13th. Wells Fargo & Company restated an "overweight" rating and set a $127.00 price target (up previously from $125.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Truist Financial cut their price objective 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. Barclays lifted 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 note on Friday, April 11th. Finally, Jefferies Financial Group boosted their target price on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" 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 assigned a buy rating to the company's stock. According to data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and an average price target of $118.85.

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.

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