Tandem Investment Advisors Inc. Has $95.13 Million Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Tandem Investment Advisors Inc. grew its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 764,709 shares of the financial services provider's stock after buying an additional 18,677 shares during the quarter. Brown & Brown comprises 3.3% of Tandem Investment Advisors Inc.'s holdings, making the stock its 14th biggest position. Tandem Investment Advisors Inc. owned about 0.27% of Brown & Brown worth $95,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BRO. Capital Investment Advisors LLC purchased a new position in shares of Brown & Brown in the first quarter worth approximately $1,929,000. Fifth Third Bancorp increased its position in shares of Brown & Brown by 7.1% in the first quarter. Fifth Third Bancorp now owns 6,807 shares of the financial services provider's stock worth $847,000 after acquiring an additional 450 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Brown & Brown by 395.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider's stock worth $3,489,000 after acquiring an additional 27,297 shares in the last quarter. National Bank of Canada FI increased its position in shares of Brown & Brown by 56.8% in the fourth quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider's stock worth $19,365,000 after acquiring an additional 68,745 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in shares of Brown & Brown in the fourth quarter worth approximately $580,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Up 0.1%

NYSE BRO traded up $0.07 during trading on Friday, reaching $107.88. The company's stock had a trading volume of 2,979,841 shares, compared to its average volume of 1,849,714. 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 stock has a market capitalization of $30.93 billion, a PE ratio of 30.05, a PEG ratio of 2.38 and a beta of 0.82. The business has a 50-day moving average price of $109.92 and a 200-day moving average price of $111.29. Brown & Brown, Inc. has a 1-year low of $89.92 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The business 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 was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share. On average, research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced 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 yield of 0.56%. The ex-dividend date was Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is presently 16.71%.

Analyst Upgrades and Downgrades

BRO has been the topic of several analyst reports. UBS Group lifted their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 9th. Wells Fargo & Company reissued an "overweight" rating and issued a $127.00 target price (up from $125.00) on shares of Brown & Brown in a research report on Thursday, June 12th. Edward Jones assumed coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating on the stock. The Goldman Sachs Group downgraded shares of Brown & Brown from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $126.00 to $119.00 in a research report on Tuesday, May 13th. Finally, 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 report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and an average target price of $118.85.

About Brown & Brown

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.