Thurston Springer Miller Herd & Titak Inc. Has $4.52 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 22.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,327 shares of the financial services provider's stock after acquiring an additional 6,581 shares during the period. Brown & Brown comprises approximately 0.8% of Thurston Springer Miller Herd & Titak Inc.'s holdings, making the stock its 24th biggest position. Thurston Springer Miller Herd & Titak Inc.'s holdings in Brown & Brown were worth $4,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of BRO. Norges Bank acquired a new stake in shares of Brown & Brown during the 4th quarter valued at approximately $313,412,000. First Trust Advisors LP lifted its position in shares of Brown & Brown by 626.6% in the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock worth $239,751,000 after buying an additional 2,026,589 shares during the last quarter. Madison Investment Advisors LLC acquired a new position in shares of Brown & Brown in the 4th quarter valued at about $198,031,000. 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 during the period. Finally, GAMMA Investing LLC grew its position in shares of Brown & Brown by 13,974.9% during the 1st quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider's stock valued at $138,427,000 after buying an additional 1,104,852 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Price Performance

Shares of NYSE:BRO traded up $0.62 during trading on Friday, reaching $110.65. The company had a trading volume of 829,033 shares, compared to its average volume of 1,481,947. The firm's fifty day moving average is $113.80 and its 200 day moving average is $111.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market capitalization of $31.71 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 2.93 and a beta of 0.84. Brown & Brown, Inc. has a twelve month low of $88.31 and a twelve month high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly 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). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business posted $1.14 earnings per share. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, May 12th. Brown & Brown's payout ratio is 16.71%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Barclays lifted their target price on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Morgan Stanley restated an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. UBS Group increased 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. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $102.00 to $100.00 and set an "underperform" rating on the stock in a research note on Monday, May 5th. Finally, Truist Financial lowered their price target on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $118.25.

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.