Silver Oak Securities Incorporated Purchases New Position in Brown & Brown, Inc. (NYSE:BRO)

Silver Oak Securities Incorporated bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,254 shares of the financial services provider's stock, valued at approximately $646,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank Pictet & Cie Europe AG bought a new stake in Brown & Brown during the fourth quarter valued at about $907,000. Proficio Capital Partners LLC lifted its position in shares of Brown & Brown by 11,337.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider's stock worth $1,109,000 after purchasing an additional 1,099,199 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Brown & Brown by 34.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 811 shares of the financial services provider's stock valued at $83,000 after buying an additional 207 shares during the last quarter. Jones Financial Companies Lllp increased its position in Brown & Brown by 83.9% in the 4th quarter. Jones Financial Companies Lllp now owns 3,917 shares of the financial services provider's stock worth $400,000 after buying an additional 1,787 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Brown & Brown during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial lowered 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. Morgan Stanley restated an "equal weight" rating and issued a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. Edward Jones started coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They set a "buy" rating for the company. UBS Group lifted their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 9th. Finally, Barclays cut their price target on Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating for the company in a report on Monday. One 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. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $118.08.

Brown & Brown Stock Down 0.5%

NYSE BRO traded down $0.53 during trading hours on Tuesday, reaching $107.28. 3,346,685 shares of the company's stock were exchanged, compared to its average volume of 1,867,212. The company's 50-day moving average is $109.76 and its two-hundred day moving average is $111.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 2.52. Brown & Brown, Inc. has a one year low of $89.92 and a one year high of $125.68. The company has a market capitalization of $30.76 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 2.36 and a beta of 0.82.

Brown & Brown (NYSE:BRO - Get Free Report) last announced 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 return on equity of 17.77% and a net margin of 20.84%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company posted $1.14 earnings per share. Brown & Brown's revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Monday, May 12th. Brown & Brown's dividend payout ratio 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.