Waverly Advisors LLC Buys Shares of 2,362 Brown & Brown, Inc. (NYSE:BRO)

Waverly Advisors LLC purchased a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,362 shares of the financial services provider's stock, valued at approximately $241,000.

Other hedge funds have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its holdings in Brown & Brown by 395.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider's stock valued at $3,489,000 after purchasing an additional 27,297 shares during the last quarter. National Bank of Canada FI lifted its holdings in Brown & Brown by 56.8% during the 4th quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider's stock valued at $19,365,000 after purchasing an additional 68,745 shares during the last quarter. FORA Capital LLC acquired a new stake in Brown & Brown during the 4th quarter valued at $580,000. Charles Schwab Investment Management Inc. lifted its holdings in Brown & Brown by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider's stock valued at $138,394,000 after purchasing an additional 40,881 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Brown & Brown by 19.9% during the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider's stock valued at $31,055,000 after purchasing an additional 50,510 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Price Performance

Shares of NYSE BRO traded up $1.12 during mid-day trading on Friday, reaching $112.82. The company had a trading volume of 2,048,769 shares, compared to its average volume of 1,485,903. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a one year low of $88.09 and a one year high of $125.68. The firm has a market cap of $32.34 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 2.93 and a beta of 0.87. The business's 50-day simple moving average is $114.70 and its 200 day simple moving average is $111.20.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the business posted $1.14 EPS. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared 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 dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's payout ratio is currently 16.71%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BRO. Keefe, Bruyette & Woods cut their price target on Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a report on Monday, May 5th. UBS Group lifted their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, April 9th. Truist Financial dropped their target price on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Edward Jones started coverage on Brown & Brown in a report on Wednesday, April 16th. They set a "buy" rating for the company. Finally, Jefferies Financial Group lifted their target price on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. 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's stock. According to MarketBeat, Brown & Brown has a consensus rating of "Hold" and a consensus price target of $116.85.

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.